Hut 8

HUT

Market cap $12.1B

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Hut 8 Mining Corp (TSX:HUT, Unlisted (US):HUTMF) shares climbed nearly 12% on Monday after the company announced a second long-term lease agreement for its Beacon Point AI data center campus in Texas, fully commercializing the 1-gigawatt facility and increasing its contracted data center portfolio. The company announced a 15-year lease agreement covering 352 megawatts (MW) of IT capacity with the same high-investment-grade tenant that signed the first phase lease at the campus.

Shares of Hut 8 (NASDAQ:HUT) are surging in Monday morning trading, with the stock up 10% to $100.58 after the energy infrastructure operator announced a second hyperscale AI data center lease that fully commercializes its flagship Texas campus.

U.S. stocks were mixed, with the Nasdaq Composite gaining around 150 points on Monday.

IREN lifts cloud revenue forecast, as it upgrades contracts with AI leaders. Hut 8 lands a new $9.8 billion deal, with room to grow.

IREN stock was gaining alongside Hut 8 as both companies announced big cloud-computing deals.

Hut 8 Corp. (NASDAQ:HUT) shares are trading higher Monday after the company announced it has fully commercialized its 1-gigawatt Beacon Point AI data center campus through a second 352-megawatt IT lease, bringing the campus-level base-term contract value to $19.6 billion.

Hut 8 , a crypto-mining turned AI data center company, said on Monday it has signed a second ​15-year lease worth $9.8 billion with an existing investment-grade customer, fully commercializing ‌its 1-gigawatt Beacon Point campus in Texas.

15-year, 352 MW IT lease doubles the existing high-investment-grade tenant's contracted capacity to 704 MW Total contracted IT capacity across Hut 8's AI data center portfolio rises to 949 MW, supported by 1,330 MW of utility capacity, with aggregate base-term contract value of $26.6 billion and average annual NOI of more than $1.75 billion 100% of Hut 8's contracted AI data center capacity is leased to or backstopped by investment-grade counterparties Renewal options increase potential campus-level contract value to $50.2 billion MIAMI, July 20, 2026 /PRNewswire/ -- Hut 8 Corp. (Nasdaq, TSX: HUT) ("Hut 8" or the "Company"), an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive technologies, today announced the commercialization of the second phase of its one-gigawatt Beacon Point data center campus in Nueces County, Texas through a second 15-year, $9.8 billion lease (the "Agreement") for 352 megawatts (MW) of IT capacity (the "Transaction"). The tenant, the high-investment-grade company that executed the Phase 1 lease, has doubled its contracted IT capacity at the campus to 704 MW.