Wednesday, Hut 8 Corp. (HUT) announced the commercialization of the first phase of its Beacon Point data center campus in Nueces County, Texas, through a 15-year, $9.8 billion lease for 352 megawatts of IT capacity.
The campus is being developed in collaboration with key Texas stakeholders, including AEP Texas, a subsidiary of American Electric Power (AEP), and the Corpus Christi Regional Economic Development Corporation.
Notably, the triple-net lease, secured with a high investment-grade tenant, is valued at up to $25.1 billion if all renewal options are exercised.
The transaction is expected to increase Hut 8's total contracted AI data center capacity to 597 MW, with an aggregate base-term contract value of approximately $16.8 billion.
In the pre-market hours, HUT is trading at $96.61, up 18.24 percent on the Nasdaq.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.