Hut 8 (HUT) Stock Edges Higher as Texas Site Lands Inside $35B Anthropic Deal
TLDR
- Anthropic agreed to spend $35 billion on computing capacity from Nvidia-backed Lambda, with some of it running through Hut 8’s Beacon Point campus in Texas.
- Hut 8’s 525-acre Beacon Point site in Nueces County has two 15-year leases covering 704 megawatts, carrying $19.6 billion in contracted value.
- Under the deal structure, Nvidia holds the facility lease, Lambda provides the chips, and Anthropic buys the resulting compute power.
- Hut 8 posted $74.93 million in revenue last quarter, up 81% year-over-year, with Beacon Point expected to generate $1.31 billion in annual operating income once fully operational.
- The deal reflects a wider trend of bitcoin miners converting power infrastructure into AI data center leases, with over $70 billion in such deals signed across the sector.
Hut 8 (HUT) stock edged higher in early trading after reports confirmed its Texas campus is part of Anthropic’s $35 billion computing deal with Nvidia-backed cloud provider Lambda.
HUT initially jumped on the news before paring gains. The stock was trading marginally higher in pre-market.
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