Hut 8 Signs $9.8 Billion Lease, Fully Commercializing Texas Data Center

Dow Jones07-20 19:09

Hut 8 said a tenant at its data center campus in Nueces County, Texas, has doubled its contracted capacity, signing a 15-year, $9.8 billion lease for 352 megawatts of IT capacity.

The artificial-intelligence infrastructure developer on Monday didn't name the tenant, describing it instead as a high-investment-grade company that previously executed a lease during the data center's first phase of commercialization.

With the new lease, Hut 8 said its one-gigawatt Beacon Point data center campus is fully commercialized.

"The real test of our power-first approach is what our partners are willing to commit against it," Chief Executive Asher Genoot said. "Our tenant at Beacon Point chose to double its footprint at the site, the strongest validation an asset can receive."

Genoot added that Hut 8 advanced the Beacon Point data center campus from first lease to full commercialization in months, and said the company will look to apply the same model across its development pipeline moving forward.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

July 20, 2026 07:09 ET (11:09 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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