Hut 8 (energy infrastructure platform) has commercialized the first phase of its 1 gigawatt Beacon Point AI data center campus through a 15-year, 352 megawatt IT lease with a high-investment-grade tenant, carrying a base-term contract value of USD 9.8 billion. The triple-net lease agreement, announced May 6, 2026, could be worth up to USD 25.1 billion if all renewal options are exercised.

A Landmark Deal for Hut 8's AI Infrastructure Strategy

The transaction represents one of the most significant commercial milestones in Hut 8's history, dramatically scaling its contracted AI data center footprint. With this agreement in place, Hut 8's total contracted AI data center capacity rises to 597 megawatts, with an aggregate base-term contract value of approximately USD 16.8 billion across its portfolio.

The Beacon Point lease alone accounts for the majority of that newly added capacity, underscoring the scale of the commitment from the undisclosed high-investment-grade tenant.

The 15-year duration of the base term, combined with the triple-net lease structure, provides Hut 8 with a long-term, predictable revenue stream. Under a triple-net arrangement, the tenant typically assumes responsibility for operating expenses, including taxes, insurance, and maintenance costs, which can reduce financial exposure for the landlord while providing stability over the life of the contract.

Beacon Point: A Gigawatt-Scale AI Campus

Beacon Point is positioned as a gigawatt-scale AI data center campus, with the 352 megawatt lease representing only the first phase of what Hut 8 envisions as a much larger buildout.

The campus is designed to support what Hut 8 describes as an AI factory, a facility purpose-built for the dense compute workloads associated with modern artificial intelligence training and inference. Critically, the 352 megawatt facility is being designed to NVIDIA's DSX reference architecture.

The DSX framework is NVIDIA's standard for gigawatt-scale AI infrastructure, meaning the Beacon Point deployment is being engineered to meet specifications intended for some of the largest and most demanding AI workloads in the industry. This architectural alignment signals that the facility is being built for next-generation AI computing requirements rather than general-purpose data center use.

Tier 1 Partners Executing the Build

Hut 8 has emphasized that the Beacon Point project is being executed under what the company calls its repeatable delivery model, relying on a group of established, publicly traded counterparties for infrastructure and construction.

American Electric Power, traded on Nasdaq under the ticker AEP, is involved in the project. AEP is one of the largest electric utilities in the United States, and its participation points to the scale of power infrastructure required to support a 352 megawatt AI data center deployment.

Power availability and reliability are among the most critical factors in large-scale data center development, and securing a utility partner of AEP's stature reflects the magnitude of the Beacon Point commitment.

Vertiv Holdings Co, listed on the New York Stock Exchange under the ticker VRT, is also named as a Tier 1 counterparty. Vertiv is a major provider of critical digital infrastructure and continuity solutions, supplying the power management, thermal management, and IT infrastructure systems that data centers require to operate at scale. Its inclusion alongside AEP and the construction partner speaks to the integrated approach Hut 8 is taking to delivery.

Jacobs, trading on the NYSE under the ticker J, rounds out the trio of Tier 1 partners. Jacobs is a global professional services and technical solutions firm with significant experience in large-scale infrastructure and technology projects. Its role in the Beacon Point development positions it as a key delivery partner in bringing the physical facility to completion.

The Repeatable Delivery Model

Hut 8's reference to a repeatable delivery model is notable in the context of the broader AI data center buildout happening across the industry. The company is framing Beacon Point not as a one-off construction effort but as an instance of a scalable, standardized approach to developing large AI infrastructure campuses.

By working with the same category of Tier 1 counterparties, a major utility, a critical infrastructure provider, and a large-scale technical services firm, Hut 8 appears to be positioning itself to replicate this development pattern across future phases of Beacon Point and potentially at other sites in its portfolio.

The reference architecture from NVIDIA further reinforces this standardization theme. Designing to a common reference standard means that subsequent phases of the campus, or future campuses entirely, could be brought online using the same blueprint, potentially reducing development timelines and execution risk.

Portfolio Context and River Bend

The Beacon Point transaction adds to a growing contracted portfolio for Hut 8. The company's total contracted AI data center capacity now stands at 597 megawatts with an aggregate base-term contract value of approximately USD 16.8 billion, figures that include both the new Beacon Point lease and previously contracted capacity.

Separately, Hut 8's development pipeline notes reference River Bend, another site in the company's portfolio. Fluidstack holds a right of first offer under the River Bend lease covering 1,000 megawatts of potential IT expansion capacity at that location.

That 1,000 megawatt figure is explicitly excluded from Hut 8's stated pipeline totals, meaning the contracted capacity and contract value figures announced alongside the Beacon Point deal do not reflect any River Bend expansion that might ultimately be realized under Fluidstack's right of first offer.

The distinction matters because it suggests Hut 8's disclosed contracted figures represent a floor rather than a ceiling on the company's potential long-term revenue from its data center portfolio, with River Bend representing a separate and substantial optionality that has not yet been counted in the headline numbers.

Power Up Your Pipeline: Data Center Intelligence Across the United States

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