Hut 8 Mining Corp (HUT) saw its shares surge 17.64% in pre-market trading following the announcement of a major partnership to accelerate the deployment of hyperscale AI infrastructure. The company revealed plans to deliver and deploy between 245 MW and 2,295 MW of AI data center infrastructure for Anthropic, utilizing high-performance clusters operated by Fluidstack.
The partnership includes a 15-year lease agreement valued at $7.0 billion over the base term, with potential expansion up to $17.7 billion if all renewal options are exercised. Financial backing for the project is provided by J.P. Morgan and Goldman Sachs, with Google offering a financial backstop for the lease term. The initiative is expected to contribute $6.9 billion in net operating income over the lease period, starting with an initial 245 MW of IT capacity at Hut 8's River Bend campus in Louisiana.
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