Hut 8 Shares Surge 21% in Premarket Trading Following Google-Backed AI Agreement

Strategic Partnership: Hut 8 has entered a 15-year, $7 billion agreement with Fluidstack to lease its AI data center at River Bend, supported by Google, Goldman Sachs, and J.P. Morgan, aiming to meet the rising demand for AI infrastructure.

Stock Performance: Following the announcement of the partnership, Hut 8's stock surged 21% in premarket trading, recovering from recent losses and reflecting an 80% year-to-date gain.

Financial Projections: The deal is expected to generate approximately $6.9 billion in net operating income over its term, with potential for the contract's value to rise to $17.7 billion through renewal options.

Additional Partnerships: Hut 8 also announced a collaboration with Anthropic and Fluidstack to enhance AI infrastructure in the U.S., targeting the deployment of up to 2,295 MW of data center capacity by early 2027.