Hut 8 surges on $9.8 billion AI data-center lease, lifting compute sector
The long-term deal sparked a rebound in AI compute stocks after investors questioned demand for new data center capacity.
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Summary
- Hut 8 shares jumped as much as 14% Monday after the company signed a $9.8 billion, 15-year lease for the second phase of its Beacon Point AI data center campus in Texas.
- The deal, with the same investment-grade tenant as the first phase, adds 352 megawatts of Nvidia-based AI capacity and fully commercializes the 1-gigawatt site, bringing the tenant’s total commitment to 704 megawatts and the campus’ base contract value to $19.6 billion.
- The announcement helped lift other bitcoin miners repositioning as AI infrastructure providers, with IREN, Cipher Mining, TeraWulf and the CoinShares Bitcoin Miners ETF all climbing in early trading.
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CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
Why it matters:
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
