Hut 8 Stock Soars 15% After Landing $7 Billion Google-Backed AI Data Center Deal
10 Sources
[1]
Bitcoin Miner Hut 8's Stock Soars After Inking $7 Billion Google-Backed AI Deal - Decrypt
Shares in publicly traded Bitcoin miner Hut8 (HUT) are soaring after the firm booked a new $7 billion, 15-year deal with Fluidstack -- backstopped by Google -- to provide power for high-performance computing via a 245MW data center at its River Bend campus in Louisiana. HUT was recently changing
[2]
Bitcoin miner Hut 8 lands $7B Google-backed AI data center lease
The 15-year agreement anchors Hut 8's shift toward long-duration AI infrastructure revenue as hyperscalers seek power-first compute capacity. Bitcoin mining company Hut 8 signed a 15-year, $7 billion lease to deliver 245 megawatts of artificial intelligence data center capacity at its River Bend
[3]
Hut 8 Stock Continues To Climb: What's Fueling The Rally? - Hut 8 (NASDAQ:HUT)
Shares of Hut 8 Corp. (NASDAQ:HUT) are trending Thursday. Multiple analysts adjusted ratings and price targets on the stock. Hut 8 stock is among today's top performers. Why is HUT stock up today? What To Know: Canaccord Genuity and Needham published positive notes about the Bitcoin miner turned
[4]
Why Hut 8 Stock Popped Today
The former Bitcoin miner is becoming a major player in the artificial intelligence (AI) power-generation race. Shares of Hut 8 (HUT +8.74%) climbed nearly 9% on Wednesday after the former cryptocurrency miner announced a partnership with Anthropic and a lucrative data center lease agreement. A
[5]
Bitcoin News: Hut 8 Secures Google's Backing In $7B Deal; HUT Stock Rallies 22%
Projected net operating income reaches $6.9B over the base lease term. Bitcoin miner Hut 8 has entered the U.S. artificial intelligence infrastructure market through a long-term partnership with Anthropic and Fluidstack. The collaboration focuses on developing large-scale AI data center capacity
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Hut 8 Corp. (HUT) Discusses AI Infrastructure Partnership and Major Data Center Lease with Anthropic and Fluidstack Transcript
So today, Hut 8 announced 2 major announcements. We announced an AI infrastructure partnership with Anthropic and Fluidstack, where Hut will develop at least 245 megawatts of infrastructure and up to 2.3 gigawatts of AI data center infrastructure for Anthropic, one of the leading AI labs who will
[7]
Hut 8 Stock Soars On Mega Data Center Lease With Fluidstack - Hut 8 (NASDAQ:HUT)
Hut 8 Corp. (NASDAQ:HUT) stock rose Wednesday after the company announced a long-term lease agreement that solidifies its position in the fast-growing AI data center market. The company has signed a 15-year lease valued at $7.0 billion with Fluidstack for 245 megawatts of IT capacity at its River
[8]
Hut 8 shares jump as ex-bitcoin miner signs US$7 billion AI data center lease
Hut 8 has signed a deal valued at about US$7 billion to lease a data center in Louisiana, it said on Wednesday, as former cryptocurrency miners pivot to meet surging demand for artificial intelligence infrastructure. Its shares rose 21 per cent in premarket trading, adding to the roughly 80 per
[9]
Hut 8 shares jump as ex-bitcoin miner signs $7 billion AI data center lease
Dec 17 (Reuters) - Hut 8 has signed a deal valued at about $7 billion to lease a data center in Louisiana, it said on Wednesday, as former cryptocurrency miners pivot to meet surging demand for artificial intelligence infrastructure. Its shares rose 21% in premarket trading, adding to the roughly
[10]
Hut 8 shares climb 12.2% premarket after co announces AI infrastructure partnership with Anthropic and Fluidstack
Hut 8 Corp. is a data mining company. The Company is a vertically integrated operator of large-scale energy infrastructure and bitcoin miner. The Company acquires, designs, builds, manages, and operates data centers that power compute-intensive workloads, such as bitcoin mining, high performance
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Bitcoin miner Hut 8 shares surged after announcing a 15-year, $7 billion lease agreement with Fluidstack to deliver 245 megawatts of AI data center capacity at its River Bend campus in Louisiana. Google is providing a financial backstop covering all lease payments, while J.P. Morgan and Goldman Sachs are handling deal financing. The agreement marks a strategic pivot from cryptocurrency mining to AI infrastructure.
Hut 8 Secures $7 Billion Deal for AI Data Center Infrastructure
Hut 8 stock climbed more than 15% on Wednesday after the company announced a landmark 15-year lease agreement valued at $7 billion with cloud infrastructure provider Fluidstack
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. The Google-backed AI deal centers on delivering 245 megawatts of AI data center capacity at Hut 8's River Bend campus in Louisiana, marking one of the largest infrastructure agreements between a crypto-native company and hyperscale AI demand2
. Shares were changing hands at $42.55 shortly after the opening bell, with the Bitcoin miner up nearly 13% in the last month and better than 150% in the last six months1
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Source: CoinGape
The agreement includes up to 15 years of renewal options that could take the total contract value to $17.7 billion
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. Hut 8 projects the lease will generate $6.9 billion in accumulated net operating income during the base lease period, translating to average annual net operating income of approximately $454 million4
. Multiple analysts issued positive ratings following the announcement, with Canaccord Genuity raising its price target from $54 to $62, while Needham maintained a $60 price target3
.Google's Financial Backstop Anchors Strategic Pivot
A defining feature of this Google-backed AI deal is the tech giant's role as a financial backstop, covering all lease payments and related obligations over the 15-year base term
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. This means Google will cover the payments if Fluidstack is unable to meet its obligations, significantly reducing risk for Hut 8. The company also expects to execute an operations services agreement with Fluidstack for ongoing data center management, backed by an additional payment guarantee from Google2
.
Source: Motley Fool
The strategic pivot from Bitcoin mining to AI infrastructure reflects broader industry trends. After spinning off its Bitcoin-mining business earlier this year, Hut 8 is transitioning to high-performance energy infrastructure used in AI factories
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. The company will work with Fluidstack to power Anthropic's rapid expansion, with Anthropic executive James Bradbury stating that "Hut 8's ability to source and deliver infrastructure at scale provides the runway necessary to continue advancing the capabilities of our models"4
.Major Financial Institutions Back River Bend Campus Development
J.P. Morgan and Goldman Sachs are handling deal financing and loan underwriting for the River Bend campus project
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. The project will be financed using loans tied directly to the data center, with major banks expected to cover most of the construction cost, reducing the amount of capital Hut 8 needs to invest upfront2
. Noah Wintroub, global chairman of investment banking at J.P. Morgan, stated that "River Bend demonstrates how, when Hut 8 brings together the combination of innovative thinking, an aligned team, and institutional discipline to a rapidly evolving sector, it translates into real, enduring value"1
.
Source: BNN
Construction is already underway, with the first data hall at River Bend expected to be completed in Q2 2027
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. Additional data halls are expected to come online over the next year2
. The project is anticipated to create up to 265 jobs in Louisiana, with Governor Jeff Landry expressing support for the initiative and the more than 300 jobs it's expected to bring3
.Related Stories
AI Infrastructure Demand Drives Compute Capacity Expansion
The lease agreement also includes a right of first offer for Fluidstack to access an additional 1,000 megawatts of IT capacity, contingent on space available at the River Bend campus
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. Hut 8 CEO Asher Genoot emphasized that "the largest bottleneck to scaling more advanced AI infrastructure is power availability," positioning the company's power-first development model as a competitive advantage5
.Hut 8's involvement in the AI sector began in 2024 when the company launched a GPU-as-a-Service offering through its new subsidiary, Highrise AI, deploying over 1,000 Nvidia H100 GPUs to drive cloud-based AI compute services
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. The company operates five Bitcoin mining sites across the United States and Canada1
.Industry Trend Shows Bitcoin Miners Shifting to High-Performance Computing
The deal continues a trend of Bitcoin miners expanding into AI infrastructure, many with Google's backing. In September, Cipher Mining shares surged on a $3 billion AI cloud hosting deal backstopped by Google
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. Bitcoin miner TeraWulf similarly secured a deal with Fluidstack backed by Google, and the tech giant increased its stake in the miner in August1
. Other miners like MARA are expanding their AI services alongside Bitcoin mining, while Bitfarms is completely winding down its BTC operations to focus on providing AI compute1
.Analysts view the deal structure favorably. Needham analyst John Todaro called it the "most attractive lease yet" for a data center, citing the project's realistic timeline, Google's reliability as a financial partner, and a favorable lease agreement
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. Canaccord analyst Joseph Vafi noted the deal represents a "standout outcome" on both pricing and terms, particularly since Google is acting as a financial backstop with no cost in equity, warrant, or upfront dilution to Hut 83
. The widespread positive analyst coverage appears to be driving shares higher on continued momentum, with Hut 8 stock advancing nearly 80% this year prior to the announcement5
.References
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