Mentioned:
Hut 8 has just cut a new long term deal for hosting high performance computing in Texas. And it’s worth billions of dollars.
What’s happening:
- Hut 8 (NASDAQ: HUT) has struck a new $9.8B USD deal to host artificial intelligence workloads at their Beacon Point data centre located in Nueces County, Texas
By the numbers:
- Hut 8’s new lease deal with their tenant will span over 15 years and could be potentially expanded to eventually be worth up a total of $25.1B USD
- Hut 8’s new tenant for their Beacon Point data centre will initially lease 352 megawatts of capacity and install their own hardware for training artificial intelligence models and high performance computing
Why it matters:
- This is the single largest deal that Hut 8 has ever done for one of their data centres
Going deeper:
- Hut 8 has publicly stated that they intend to eventually deploy 1 gigawatt of power capacity at their Beacon Point data centre campus
- Hut 8 previously made major waves on Wall Street when they struck a deal with Anthropic and Fluidstack to deploy 245 megawatts of power capacity
The fine print:
- Hut 8 has not publicly disclosed which company they have entered into a lease agreement with at their Beacon Point data centre
