Hut 8 disclosed that a 15-year lease worth $9.8 billion had been signed for the second phase of the Beacon Point data centre complex in Texas. After the news came out, the price of a bitcoin mine and AI infrastructure developer stock increased by 14 per cent, which also led to a rise in high-performance algorithms.

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The agreement was signed by the same investment-grade tenants as the initial project. According to the arrangement, Hut 8 will build 352 MW based on the AI algorithm of the Nvidia data centre architecture.

With the landing of the second phase, the total power capacity of the park 1 Giwa has been commercialized. The total contracted capacity of the tenants increased to 704 MW and the base contract value of the campus during the initial lease period to $19.6 billion.

Beacon Point completes the entire campus.

The focus of the company ' s disclosure was that Beacon Point had completed a commercial contract for the entire Giva Park instead of a phased project. This means that the visible revenues of Hut 8 on the AI data centre operations have increased further, and that it has allowed the market to reassess the progress of mining companies in moving to a computing infrastructure.

Prior to this, investors were once concerned that the demand for new data centres might slow. Following the launch of the open source AI model by some Chinese companies, the market began to discuss whether model training would reduce reliance on high-intensity computing. At the same time, Meta was reported to have considered the introduction of the AI computing cloud service, raising concerns that new supplies could lower the revenues of data centre operators.

The stock price of the same kind of company goes up in parallel.

Hut 8 rose to a maximum of US$ 104.51 per week. Other high-performance-related companies are also generally on the rise, driven by news:

  • IREN, breakfast up 15%.
  • Cipher Mining 11% up
  • TerraWulf, up 6.4%.

The CoinShares Bitcoin Miners ETF (WGMI), which tracks Bitcoin mining, also increased by 9.3 per cent. From the face-to-face response, the long-term lease was seen by the market as a direct validation of the needs of the AI data centre, and the short-lines alleviated previous concerns surrounding oversupply.