Hut 8 Signs $9.8 Billion Lease for Texas AI Data Center as IREN Raises Cloud Revenue Target to $4 Billion
Hut 8 signed a second 15-year lease worth $9.8 billion for the second phase of its Beacon Point AI data center campus in Texas, bringing the total value of the 1 GW site to $19.6 billion.
Bitcoin miner IREN secured $2.8 billion in new multi-year AI cloud contracts, prompting the company to raise its 2026 AI cloud revenue target to more than $4 billion. The announcements underscore a continuing shift in cryptocurrency mining operations toward artificial intelligence infrastructure, with both companies seeing stock gains of over 14% following the news.
From the sources (4 posts)
@theblockcoTHE BLOCK: Hut 8 and IREN each unveil billion-dollar AI infrastructure deals as the miner-to-AI pivot accelerates. $HUT signs a second $9.8 billion lease to fully commercialize its 1 GW Texas campus at $19.6 billion. $IREN adds $2.8 billi
@coindeskHut 8 ($HUT) shares jumped as much as 14% Monday after the company signed a $9.8 billion, 15-year lease for the second phase of its Beacon Point AI data center campus in Texas.
@wublockchainHut 8 and IREN Secure Major AI Deals as Crypto Miners Expand Beyond Bitcoin Hut 8 signed a second 15-year AI data center lease worth $9.8 billion, fully commercializing its 1 GW Beacon Point campus in Texas. Separately, IREN secured $2.
@cointelegraph🔥 UPDATE: Bitcoin miner IREN surged 16% after raising its AI cloud revenue target to over $4 billion on the back of $2.8 billion in new AI infrastructure contracts.