• Hut 8 is partnering with Anthropic and Fluidstack to develop as much as 2.3 gigawatts of AI knowledge heart capability, marking a significant strategic pivot from Bitcoin mining to hyperscale AI infrastructure.
  • The deal is anchored by a $7 billion, 15-year lease at Hut 8’s River Bend campus in Louisiana, with Google offering a monetary backstop for all lease funds and renewal choices doubtlessly reaching $17.7 billion.
  • Following the announcement, Hut 8 shares surged over 25% as the corporate secured underwriting from JPMorgan and Goldman Sachs to finance the mission’s preliminary section, scheduled for completion in Q2 2027.

Hut 8 shares rose greater than 25% in pre-market buying and selling on Wednesday, reaching about US$46 (AU$69.75) versus Tuesday’s US$36.85 (AU$55.87) shut, after the favored miner introduced it partnered with Anthropic and Fluidstack.

The partnership seeks to construct large-scale AI knowledge heart capability in the US, increasing its growth pipeline past BTC mining.

Below the deal, Hut 8 will develop and ship at the least 245 megawatts (MW) and as much as 2,295 MW of AI knowledge heart capability for Anthropic, in response to the press release. 

The compute clusters might be operated by Fluidstack, and the primary section might be constructed at Hut 8’s River Bend campus in Louisiana. 

Furthermore, Hut 8 and Fluidstack plan to develop 245 MW of IT capability, supported by 330 MW of utility energy. Later phases embody a proper of first provide for as much as 1,000 MW of further capability at River Bend, plus potential joint growth of as much as 1,050 MW throughout Hut 8’s wider website pipeline.

Via our partnership with Anthropic and Fluidstack, we’re aligning energy, knowledge heart design, and compute deployment into an built-in platform able to delivering at gigawatt scale.

Asher Genoot, CEO of Hut 8.

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A US$7 Billion Deal

Alongside the partnership, Hut 8 stated it signed a 15-year triple-net lease with Fluidstack for the preliminary 245 MW at River Bend, valued at US$7 billion (AU$10.7 billion) over the bottom time period. Triple-net means the tenant covers prices like property tax, insurance coverage, upkeep, and working bills along with lease. 

The lease has three five-year renewal choices that would increase the entire worth to about US$17.7 billion (AU$27 billion).

The preliminary knowledge heart is scheduled for completion within the second quarter of 2027, with extra services anticipated later in 2027. Hut 8 stated it plans to finance the construct with as much as 85% loan-to-cost funding, with JPMorgan anticipated to be the lead underwriter and Goldman Sachs additionally underwriting, topic to last agreements.

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