Hut 8 has secured a 15-year, triple-net lease with a high-investment-grade tenant for 352 megawatts of IT capacity at its Beacon Point AI data center campus, carrying a base-term contract value of USD 9.8 billion and a potential value of up to USD 25.1 billion if all renewal options are exercised.

The deal, announced May 6, 2026, marks the commercialization of the first phase of Beacon Point, a planned one-gigawatt campus.

It also expands Hut 8's total contracted AI data center capacity to 597 megawatts, with an aggregate base-term contract value of approximately USD 16.8 billion across its portfolio.

A Gigawatt Campus Takes Shape

Beacon Point is positioned as a flagship asset in Hut 8's growing data center infrastructure portfolio. The campus is designed with a long-term buildout target of one gigawatt of capacity, and the newly signed lease covers the first major phase of that development, 352 megawatts of IT load committed under a long-term agreement with a tenant Hut 8 describes as a high-investment-grade counterparty.

The company did not publicly identify the tenant in its announcement, but characterized the structure as a triple-net lease, a format that typically places responsibility for operating costs, taxes, and maintenance on the lessee rather than the landlord.

That structure, combined with the 15-year base term and available renewal options, puts the total potential contract value at USD 25.1 billion.

The lease brings Hut 8's contracted AI data center capacity to 597 megawatts in total, layering this new agreement on top of existing contracted capacity across the company's broader development pipeline.

NVIDIA DSX Architecture at the Core

Hut 8 will deliver the 352 megawatt facility as an AI factory designed to NVIDIA's DSX reference architecture.

The DSX framework is NVIDIA's specification for gigawatt-scale AI infrastructure, intended to guide the design and deployment of large-scale GPU computing environments built around NVIDIA's accelerated computing platforms.

By building to this reference architecture, Hut 8 is aligning the Beacon Point facility with a standardized design approach that targets the infrastructure requirements of frontier AI workloads.

The company's announcement frames the lease and facility design as part of a repeatable delivery model, a structured approach to executing large-scale AI data center projects with established Tier 1 counterparties.

Tier 1 Partners Across Power, Cooling, and Construction

The Beacon Point transaction was executed with three publicly listed Tier 1 partners covering distinct elements of the project's development and infrastructure requirements.

American Electric Power, listed on the Nasdaq under the ticker AEP, is involved in the power side of the project. AEP is one of the largest electric utilities in the United States, and its participation addresses one of the most critical constraints in large-scale data center development: reliable, large-volume power delivery.

Vertiv Holdings Co, traded on the New York Stock Exchange under VRT, is engaged in the project as well.

Vertiv is a specialist in data center infrastructure and thermal management solutions, and its role speaks to the cooling and power management demands of a high-density AI computing environment of this scale.

Jacobs, listed on the NYSE under the ticker J, rounds out the delivery team.

Jacobs is a global engineering and construction firm with significant experience in complex infrastructure projects, and its involvement covers the construction and engineering execution dimension of the Beacon Point build.

Together, these three partners form what Hut 8 describes as its repeatable delivery model — a formula the company appears to be positioning as a template for scaling additional AI data center capacity efficiently and with reduced execution risk.

Portfolio Context and Pipeline Scope

The Beacon Point lease materially advances Hut 8's contracted revenue base. The company's total contracted AI data center capacity now stands at 597 megawatts, and the aggregate base-term contract value across its portfolio has reached approximately USD 16.8 billion.

The one-gigawatt ambition for Beacon Point itself leaves significant room for additional phases beyond the 352 megawatts now under lease, suggesting further commercial announcements could follow as the campus matures. Hut 8's broader development pipeline also includes the River Bend site.

The company's announcement notes that River Bend holds 1,000 megawatts of potential IT expansion capacity, which is excluded from the current pipeline figures.

Fluidstack holds a right of first offer on that potential expansion capacity under the terms of the River Bend lease, adding a conditional dimension to how that portion of Hut 8's pipeline may ultimately be commercialized.

AI Infrastructure Demand Driving Long-Term Commitments

The structure and scale of the Beacon Point lease reflect broader trends in the AI infrastructure market, where hyperscale and enterprise tenants are increasingly willing to sign long-duration agreements to secure access to purpose-built, high-density computing facilities.

A 15-year base term with renewal options extending potential value to USD 25.1 billion represents a substantial long-term commitment from the unnamed tenant and underscores the degree to which access to AI-ready data center capacity has become a strategic priority.

For Hut 8, the transaction represents a significant step in its transition from a cryptocurrency mining company toward a diversified high-performance computing and AI infrastructure platform.

The company's ability to attract a high-investment-grade tenant at this scale, structured under a triple-net lease, positions Beacon Point as a cornerstone asset in that strategic evolution.

The announcement was made on May 6, 2026, with the preliminary rendering of the Beacon Point Data Center also released alongside the press statement.