Hut8 (ticker: HUT), a Nasdaq-listed Bitcoin mining company in the U.S., has signed a 15-year lease agreement for the Phase 1 site of its Beacon Point AI data center located in Texas. According to Decrypt, the deal is valued at $9.8 billion and includes 352MW of AI data center capacity. The information about the tenant company is confidential, but it is known that they plan to build dedicated computing infrastructure to support hyperscale AI training and inference workloads. Hut8 originally purchased the site for its subsidiary, American Bitcoin, but converted it for AI infrastructure use as power demand increased and customer requirements expanded. The media explained, "Amid a surge in demand for AI computing power, competition among infrastructure companies to leverage this is accelerating."
