Hut 8’s Explosive Growth: A 128% Surge in 2026 After Securing a $27B AI Data Center Empire
Hut 8 Corp. (NASDAQ: HUT), a former Bitcoin miner, has emerged as one of the most compelling stock narratives of 2026. The company’s shares have skyrocketed up to 200% from their yearly low, following its successful transition into a significant AI infrastructure titan. The stock currently trades around $108, marking an approximate 128% increase year-to-date.
The stock rally was driven by a series of high-profile deals. The most significant of these was a 15-year, $9.8 billion lease at its Beacon Point campus in Texas. This 352-megawatt facility, designed according to NVIDIA’s DSX reference architecture for AI training and inference, has been a game-changer.
In addition to the lease, an earlier collaboration with AI firm Anthropic and compute provider Fluidstack to develop up to 2,295 megawatts of AI data center capacity has propelled Hut 8’s growth. These strategic moves have allowed Hut 8 to accumulate approximately $27 billion in contracted AI revenue and an estimated $1.75 billion in annualized EBITDA, as stated by CEO Asher Genoot.
Hut 8’s strategic shift, which involved repurposing energy-intensive Bitcoin mining infrastructure for high-performance AI computing, has caught Wall Street’s eye. Billionaire investor Daniel Loeb’s Third Point has recently invested in the company. Analysts have given a consensus Buy rating with an average price target of $120. As Q2 2026 earnings are expected on August 4, all eyes are on whether Hut 8 can start transforming its substantial contract pipeline into tangible revenue. However, significant AI cash flow is not anticipated until mid-2027.
Source: Yahoo Finance – Hut 8 Stock Surges Up to 200% in 2026 as Bitcoin Mining Unit Struggles