Hut 8 Corp. Sees Stock Surge Following Significant AI Deal with Anthropic & Fluidstack
Shares of Hut 8 Corp. (Nasdaq: HUT) experienced a nearly 4% surge following the announcement of a significant AI infrastructure partnership with leading AI research firm Anthropic and cloud compute provider Fluidstack. This deal positions Hut 8, previously known primarily for its Bitcoin mining operations, as a key player in the rapidly expanding artificial intelligence data center market.
As part of the agreement, Hut 8 is set to develop and deliver a minimum of 245 megawatts (MW) and potentially up to 2,295 MW of AI data center infrastructure for Anthropic. The partnership will kick off at Hut 8’s River Bend campus in Louisiana, where the initial 245 MW phase is supported by 330 MW of utility capacity. Construction is slated to commence in 2026, with the expectation of the first data hall becoming operational by Q2 2027.
The deal, which is structured across multiple tranches, carries a base value of approximately $7 billion. With options to extend the lease for an additional 15 years, the total contract value could potentially reach $17.7 billion. Hut 8 will provide land, power infrastructure, and core assets, utilizing its existing high-voltage power and advanced cooling systems—originally constructed for crypto mining—for AI workloads.
“Scaling frontier AI infrastructure is, at its core, a power challenge,” stated Asher Genoot, CEO of Hut 8. This partnership signifies a wider industry trend of crypto infrastructure firms shifting towards AI compute demand.
Source: PR Newswire — Hut 8 Announces AI Infrastructure Partnership with Anthropic and Fluidstack