Hut 8 Sees Significant Growth Following Major AI Data Center Agreements with Anthropic
Energy infrastructure giant Hut 8 Corp. (NASDAQ/TSX: HUT) is capitalizing on the AI boom. Its stock has seen a considerable increase following a series of significant AI data center agreements. These deals are transforming the former Bitcoin miner into one of the most ambitious AI infrastructure providers in North America.
Hut 8 recently announced a groundbreaking partnership with leading AI company Anthropic and compute platform Fluidstack. This collaboration aims to expedite the deployment of hyperscale AI infrastructure across the United States. As per the agreement, Hut 8 will develop and deliver between 245 and 2,295 megawatts (MW) of AI data center capacity for Anthropic. The initial phase will commence at Hut 8’s River Bend campus in Louisiana, deploying 245 MW of IT capacity supported by 330 MW of utility power.
The agreement is structured in three tranches, providing Anthropic with options to access up to an additional 1,000 MW of capacity at River Bend. Additionally, a further 1,050 MW is available across Hut 8’s broader development pipeline. Hut 8’s total contracted AI revenue now approximates $27 billion, with annualized earnings nearing $1.75 billion. Analysts have set price targets as high as $226 per share.
CEO Asher Genoot stated, “Scaling frontier AI infrastructure is, at its core, a power challenge.”
Source: MSN Money – Hut 8 Stock Jumps on AI Pacts | Data Center Dynamics