Hut 8 is rallying on a major AI-infrastructure commercialization milestone announced on May 6, 2026: a 15-year, $9.8 billion base-term lease for 352 megawatts of IT capacity at its Beacon Point campus in Nueces County, Texas. The agreement is structured as a take-or-pay, triple-net lease with a confidential, high-investment-grade tenant, which investors are treating as a step-change in contracted cash flows and validation of Hut 8’s shift toward powering and leasing large-load AI data centers. (prnewswire.com)

The Beacon Point lease includes a 3.0% annual base-rent escalator and is expected to contribute cumulative net operating income of $9.8 billion over the base term, implying an expected average annual NOI contribution of about $655 million upon stabilization. Hut 8 also disclosed three 5-year renewal options that could lift total contract value to roughly $25.1 billion if exercised, reinforcing the long-duration nature of the cash-flow profile investors typically prize in data center leasing models. (prnewswire.com)

Hut 8 said it has executed an interconnection agreement for 1,000 MW of utility capacity at Beacon Point, with initial energization expected in Q1 2027 and initial data hall delivery expected in Q3 2027. The company also highlighted that the Beacon Point deal increases its total contracted AI data center capacity to 597 MW of IT capacity across two campuses, with an aggregate base-term contract value of about $16.8 billion. (prnewswire.com)

In parallel with the lease news, Hut 8 reported Q1 2026 financial results and emphasized its growing contracted revenue base tied to triple-net, take-or-pay data center leases, alongside updates spanning power, digital infrastructure, and compute. While headline lease value is dominating today’s trade, the combination of a large new long-term contract and the broader pipeline narrative is amplifying momentum in the shares. (prnewswire.com)