Hut 8 Shares Jump on $10B Texas AI Data Center Lease Deal
Hut 8 expects its new Texas AI data center deal to generate about $655 million in annual revenue once fully operational, after a $10 billion, 15-year lease for 352 MW of IT capacity at its Beacon Point campus. Shares surged toward a record above $100 following a Q1 earnings beat, despite revenue of $71 million missing expectations.