A former Bitcoin miner just landed one of the largest data center lease agreements in history. Nvidia has been identified as the undisclosed high-investment-grade tenant behind two 15-year leases at Hut 8’s Beacon Point AI campus in Nueces County, Texas, according to a Financial Times report published July 28, 2026.
The base value of the two leases combined sits at $19.6B. If renewal options are exercised, that number climbs to $50.2B.
What exactly was signed
The deal breaks down into two phases, each covering 352 megawatts of IT capacity, for a combined 704 MW across the full campus.
The first lease, valued at $9.8B, was signed on May 6, 2026. The second followed around July 20, 2026, with a matching structure and value.
