Hut 8 Enters $7 Billion Agreement with Fluidstack for AI Infrastructure Leasing

Hut 8's Major Lease Agreement: Hut 8 has signed a 15-year lease worth $7 billion with Fluidstack for 245 MW of IT capacity at its River Bend campus, with potential growth to $17.7 billion if renewal options are exercised.

Google's Support: Google is backing the deal by providing a financial guarantee for lease payments, emphasizing Hut 8's focus on scalable power and infrastructure solutions for AI computing.

Stock Surge: Following the announcement of the AI infrastructure deal, Hut 8's stock surged over 25% in premarket trading, reflecting investor confidence in the company's pivot from cryptocurrency mining to AI workloads.

Expansion Plans: Hut 8 aims to develop up to 2,295 MW of AI capacity across its sites, positioning itself as a key player in the growing demand for AI data center infrastructure.