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Hut 8 (HUT) Soars as Beacon Point Secures $50.2-Billion Revenue Potential
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Hut 8 Corp. surged by 10.37 percent on Monday to end at $100.93 apiece, as investors took heart from the $50.2-billion revenue potential of its Beacon Point data center campus in Texas.
15-Year TermUnder the new agreement, Hut 8 Corp. (NASDAQ:HUT) will deliver the committed capacity over the course of 15 years.
Hut 8 Corp. (NASDAQ:HUT) also offered the option to renew the lease by three five-year terms, bringing the potential leasing revenue to $50.2 billion.
Hut 8 Corp. (NASDAQ:HUT) said that it expects to deliver the initial phase 2 data hall in the second quarter of 2028.
Beacon Point—First Fully Commercialized ProjectFollowing the agreement, Hut 8 Corp. (NASDAQ:HUT) said that Beacon Point became the company’s first fully commercialized AI data center campus.