Hut 8 Shares Soar 34% on $9.8 Billion AI Data Center Lease Deal

According to The Block, Hut 8 Corp.'s shares jumped 34% to $107.87 in pre-market trading today after the company signed a $9.8 billion lease for an artificial intelligence data center campus in Nueces County, Texas, designed to NVIDIA’s compute architecture. The deal represents the first phase of Hut 8’s Beacon Point campus commercialization, with an unnamed tenant using the infrastructure for AI training and inference workloads at hyperscale. If all renewal options are exercised, the lease could be worth over $25 billion. Hut 8 also reported first-quarter 2026 results, with quarterly revenue rising to $71 million from $22 million year-over-year, driven primarily by $66 million in compute-related revenues.