HUT
Beacon Point is officially booked
Hut 8 says its 1 GW Beacon Point AI data center campus in Texas is now fully commercialized after signing a second 15-year lease for 352 MW of IT capacity. Translation: the company didn’t just build the shiny box — it found a long-term tenant willing to fill it up.
Why this matters for your stock watch
The new lease doubles the existing tenant’s contracted capacity at the campus to 704 MW and brings total contracted AI data center capacity across Hut 8’s portfolio to 949 MW. That’s a lot of metal, power, and fiber getting spoken for — and in this business, long-term contracted capacity is basically the difference between a science project and a money printer.
The numbers are doing the heavy lifting
Hut 8 says the portfolio now has:
- 1,330 MW of utility capacity supporting the buildout
- $26.6 billion in aggregate base-term contract value
- More than $1.75 billion in average annual NOI
- 100% of contracted AI data center capacity leased to or backstopped by investment-grade counterparties
That last part is the investor candy. A giant lease is nice; a giant lease from a high-quality counterparty is nicer. It helps make the whole AI-infrastructure pitch feel a lot less like hype and a lot more like signed paperwork.
Big picture
Hut 8 is trying to position itself as a power-and-compute landlord for the AI boom, not just a crypto-era survivor with a new haircut. If this campus keeps filling up on schedule, the market may start valuing it more like infrastructure than a story stock. And honestly? That’s usually where the less dramatic, more profitable chapters begin.