Hut 8 signs a 15-year, $9.8bn lease for the first phase of its Texas AI data centre

The Beacon Point lease, anchored by an unnamed investment-grade tenant, lifts Hut 8’s contracted AI capacity to 597 MW and $16.8bn in base-term value. The Bitcoin-miner-to-AI-landlord pivot is now substantially complete. There is a particular kind of corporate transformation that is supposed to take years, and Hut 8 has done it in roughly 18 months.