Hut 8 Corp. Shares Surge Amidst AI Infrastructure Deals with Anthropic & Fluidstack
Shares of Hut 8 Corp. (Nasdaq: HUT) surged nearly 4% on Monday. The surge is attributed to the company’s significant AI infrastructure partnership with Anthropic and Fluidstack, which continues to attract investor interest. The former Bitcoin mining company is currently undergoing a dramatic transformation, positioning itself as a leading U.S. AI data center infrastructure provider.
The centerpiece of the deal is a 15-year, $7 billion lease agreement at Hut 8’s River Bend campus in Louisiana. Here, the company plans to develop an initial 245 megawatts (MW) of AI data center capacity for Anthropic, with high-performance clusters operated by Fluidstack. The agreement includes options for an additional 15-year extension, potentially raising the total contract value to approximately $17.7 billion. In total, the partnership could ultimately deliver up to 2,295 MW of AI data center capacity.
Construction is set to commence in 2026, with the first data hall expected to be operational by the second quarter of 2027. Hut 8’s CEO Asher Genoot hailed the deal as a testament to the company’s “power-first, innovation-driven development model.” He further emphasized that “scaling frontier AI infrastructure is, at its core, a power challenge.” To finance the River Bend campus development, the company raised $3.25 billion in bonds.
Source: Data Center Dynamics – Hut 8 selling $3.25bn in bonds to finance River Bend AI data center campus