Hut 8 Secures $7 Billion AI Data Center Lease Backed by Google

15-Year Agreement Positions Hut 8 as Key Player in AI Infrastructure Market

Bitcoin miner Hut 8 has signed a 15-year, $7 billion lease to provide 245 megawatts of AI data center capacity at its River Bend campus in Louisiana. The deal, backed financially by Google, marks a significant pivot from crypto mining toward long-duration AI infrastructure revenue.

Lease Structure and Financial Backing

The lease will be executed by infrastructure provider Fluidstack, with Google providing a financial backstop to cover lease payments and obligations if Fluidstack cannot meet them. This arrangement mitigates risk for Hut 8 and supports the long term viability of the project. Construction has already started, with the first data hall expected to be commissioned in Q2 2027, followed by additional halls over the next year.

The project financing will rely on loans tied directly to the data center, with major banks covering most construction costs. This approach minimizes Hut 8’s upfront capital requirements and demonstrates institutional confidence in the company’s execution model.

Hut 8’s River Bend project builds on its AI strategy launched in 2024. Through its subsidiary Highrise AI, the company deployed over 1,000 Nvidia H100 GPUs for cloud-based AI compute services. The deal places Hut 8 alongside other crypto-native firms entering AI infrastructure, such as Core Scientific and Galaxy Digital, highlighting the growing convergence between blockchain expertise and high-performance AI computing.

The agreement reinforces Hut 8’s position in the power-first, AI infrastructure market offering predictable long-term revenue while leveraging its existing data center capabilities. The combination of institutional backing, advanced GPU deployment, and strategic partnerships positions the company to capture a significant share of the emerging AI compute demand.

Disclaimer

This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.