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Hut 8 Beacon Point power leases tied to Anthropic AI deal

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Some of the 704 megawatts of leased capacity at Hut 8’s Beacon Point campus in Nueces County, Texas, is expected to support AI workloads under Anthropic’s $35 billion deal, involving Lambda and possibly Nvidia. The two Beacon Point leases cover 704 MW and total $19.6 billion in contracted value over 15-year terms, with $1.31 billion annual operating income once fully operational. Hut 8 reported $74.93 million quarterly revenue in June, up 81% year over year.

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