Hut 8 to Lease Texas AI Data Center for at Least $9.8 Billion

Hut 8 Corp., a cryptocurrency miner that is shifting to developing artificial intelligence data center capacity, has signed a lease worth at least $9.8 billion over 15 years to provide computing power to a “high-investment-grade company.”

The data center developer declined to name the tenant for the new AI facility located at a campus called Beacon Point in Nueces County, Texas. The agreement may rise to a value of $25.1 billion if the tenant exercises all three five-year extensions, Hut 8 said Wednesday in a statement.

The Beacon Point data center is approved for as much as 1 gigawatt ...