Hut 8 just sealed a $9.8 billion, 15-year lease for the second phase of its Beacon Point AI data center in Texas, locking in 352MW of Nvidia-powered computing — bringing total tenant commitment to 704MW. This massive deal, from the same key tenant as Phase 1, delivers a powerful shot in the arm for the AI infrastructure market, calming investor nerves amid recent doubts about demand. The $19.6 billion total commitment across both phases signals sustained, long-term AI compute demand — and sent ripples of confidence through the sector, lifting peers like IREN, Cipher Mining, and TeraWulf.
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