Open report — full analysis, no account required.
Sign up to generate reports and read filings that aren't on the open list.
Get notified when HUT files again. Create a free account and we'll email you the moment its next filing is analyzed.
Get filing alertsHut 8 signs second 15-year, $9.8B lease for 352 MW at Beacon Point, fully commercializing 1 GW campus
Filed July 20, 2026 · Period ending July 20, 2026 · ~1 min read
Key Changes
-
high
Signed second 15-year lease for 352 MW at Beacon Point with same investment-grade tenant, bringing campus to 704 MW contracted (fully commercialized against 1,000 MW utility capacity); lease valued at $9.8B base-term with 3% annual escalator.
Exhibit 99.1 view on EDGAR → -
high
Total AI data center portfolio now 949 MW contracted (704 MW Beacon Point, 245 MW River Bend) with $26.6B cumulative base-term contract value and expected average annual NOI exceeding $1.75B; 100% leased to investment-grade counterparties.
Exhibit 99.1 view on EDGAR → -
medium
Beacon Point Phase 2 initial data hall delivery expected Q2 2028; site preparation underway, long-lead equipment procured, initial energization on schedule for Q1 2027.
Exhibit 99.1 view on EDGAR → -
medium
Disclosed December 4, 2024 launch of $250M stock repurchase program allowing buyback of up to 6.16M shares (5% of outstanding) over twelve months at prevailing market prices.
Exhibit 99.1 view on EDGAR →
Summary
Hut 8 has fully commercialized its one-gigawatt Beacon Point data center campus in Texas by signing a second 15-year lease for 352 megawatts of IT capacity with the same high-investment-grade tenant that took Phase 1.
The new lease is valued at $9.8 billion over the base term with a 3% annual rent escalator and is expected to contribute $9.8 billion in cumulative NOI, averaging $655 million annually upon stabilization. The tenant has now doubled its footprint at Beacon Point to 704 MW, fully utilizing the campus's utility capacity.
Across Hut 8's AI data center portfolio, total contracted capacity reaches 949 MW (704 MW at Beacon Point, 245 MW at River Bend) with cumulative base-term contract value of $26.6 billion and expected average annual NOI exceeding $1.75 billion. All contracted capacity is backed by investment-grade counterparties, providing significant revenue visibility. Initial Phase 2 delivery is expected in Q2 2028, with site preparation underway and initial energization on schedule for Q1 2027. The filing also disclosed a $250 million stock repurchase program launched in December 2024, allowing buyback of up to 5% of outstanding shares over twelve months.
Section-by-Section Diff
Event · Item 8.01 — Other Events
Item 8.01 — Other Events filed; see Key Changes for terms.
Added in current filing · view on EDGAR → · paraphrased
the Company issued a press release announcing the commercialization of the second phase of its one-gigawatt Beacon Point data center campus in Nueces County, Texas through a second 15-year lease for 352 megawatts of IT capacity
Hut 8 has leased 352 megawatts of IT capacity at its Beacon Point data center campus in Nueces County, Texas under a 15-year agreement. This represents the second phase of commercialization for the one-gigawatt campus, indicating continued customer demand and revenue visibility for the company's data center infrastructure.
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
Base-Term Contract Value: $9.8 billion over a 15-year base lease term, inclusive of a 3.0% annual base rent escalator; base-term contract value for the full 1,000 MW campus rises to $19.6 billion. ... NOI Contribution: Expected cumulative NOI contribution of $9.8 billion over the base term, or an average of $655 million per year upon stabilization; average annual NOI for the full 1,000 MW campus rises to $1.31 billion.
The new lease adds $9.8 billion in base-term contract value over 15 years, bringing the full Beacon Point campus to $19.6 billion in base-term value. Expected cumulative NOI contribution from the new lease is $9.8 billion over the base term, averaging $655 million annually upon stabilization. The full campus is expected to generate average annual NOI of $1.31 billion. Three 5-year renewal options per lease could increase potential campus-level contract value to $50.2 billion if all options are exercised.
Added in current filing · view on EDGAR →
Delivery Timeline: Initial Phase 2 data hall delivery expected in Q2 2028. ... Site preparation is underway, and long-lead critical equipment has been procured. Initial energization remains on schedule for Q1 2027.
Initial Phase 2 data hall delivery is expected in Q2 2028. Site preparation is underway, long-lead critical equipment has been procured, and initial energization remains on schedule for Q1 2027. The campus's full 1,000 MW of utility capacity is secured under an interconnection agreement with AEP Texas, and no incremental capacity is required to serve the Phase 2 lease.
Thanks — your feedback helps us improve report quality.
Figures/quotes linked to EDGAR · Narrative written by AI · Jul 23, 2026 · How we verify