Hut 8 Stock Surges 30% After $9.8 Billion AI Data Center Deal Aligned With NVIDIA Architecture

Hut 8 AI Data Center Deal Drives Stock Rally

Shares of Hut 8 surged more than 30% in early trading after the company secured a $9.8 billion lease tied to an artificial intelligence data center built to NVIDIA compute standards. The agreement marks the first phase of commercialization for the Beacon Point campus in Nueces County, Texas.

The unnamed tenant plans to use the facility for large-scale AI training and inference workloads. Hut 8 noted that if all lease extensions are exercised, the total contract value could exceed $25 billion, signaling long-term demand for high-performance computing infrastructure.

Financial Results and Revenue Growth

Alongside the announcement, Hut 8 reported a net loss of $253 million for the first quarter, up from $134 million a year earlier. However, revenue rose significantly to $71 million, driven largely by $66 million in compute-related income across ASIC operations, AI cloud services, and traditional cloud offerings.

Shift From Bitcoin Mining to AI Infrastructure

The company continues to reposition its business model, moving beyond bitcoin mining toward energy and compute infrastructure. CEO Asher Genoot emphasized that large-scale power access is becoming a key competitive advantage in supporting next-generation technologies.

Hut 8 reported holding $1.3 billion in cash and Bitcoin reserves, including assets tied to its majority-owned affiliate American Bitcoin.