Hut 8 Corp. announced it has fully commercialized its 1-gigawatt Beacon Point data center campus in Nueces County, Texas, after signing a second 15-year lease worth $9.8 billion in base-term contract value. The new agreement covers 352 megawatts of IT capacity and doubles the existing tenant's contracted footprint at the site to 704 megawatts, bringing the campus-level base-term contract value to $19.6 billion.
The tenant, described only as a high-investment-grade global technology company, first signed at Beacon Point earlier this year before returning to expand its commitment. With the second lease, the entire 1,000 megawatts of utility capacity secured under Hut 8's interconnection agreement with AEP Texas is now under contract.
Hut 8 said site preparation is underway and long-lead equipment has been procured, with initial energization still on schedule for the first quarter of 2027. Delivery of the second phase data hall is expected in the second quarter of 2028.
CEO Asher Genoot said the tenant's decision to double its footprint validated the company's site selection and delivery approach. Hut 8's broader AI data center portfolio, which also includes its River Bend campus, now carries 949 megawatts of contracted IT capacity and an aggregate base-term contract value of $26.6 billion.
The transaction adds to a wave of expansion activity at existing Texas data center campuses even as state regulators weigh how to manage a surge of new interconnection requests.
Source: PR Newswire (Hut 8 Corp.) - https://www.prnewswire.com/news-releases/hut-8-fully-commercializes-1-gw-beacon-point-ai-data-center-campus-with-second-352-mw-it-lease-bringing-campus-level-base-term-contract-value-to-19-6-billion-302829514.html