Management pointed to River Bend and Beacon Point as examples of the strategy. At River Bend, structural steel erection began in early June, while substation steel erection started in mid-July. With that agreement, Hut 8 said Beacon Point was fully commercialized, with one gigawatt of utility capacity supporting contracted investment-grade cash flows. Hut 8 completed $7.5 billion in investment-grade project financing for River Bend and Beacon Point Building One. Genoot said the reported pipeline excludes merger-and-acquisition opportunities, behind-the-meter generation possibilities and a potential River Bend expansion.