U.S. Nasdaq-listed Bitcoin miner Hut8 (ticker: HUT) has signed a 15-year lease agreement for Phase 1 of its Beacon Point AI data center site located in Texas. According to Decrypt, the deal is valued at $9.8 billion and includes 352MW of AI data center capacity. The tenant company's information remains confidential, but it is known to be building dedicated computing infrastructure to support hyperscale AI training and inference workloads. Hut8 originally acquired the site for its subsidiary, American Bitcoin, but converted it for AI infrastructure use due to increasing power demand and expanding client requirements. Media explained, "Amid a surge in demand for AI computing power, competition among infrastructure companies to capitalize on this trend is accelerating."
