Hut 8 Leaps Forward with Billion-Dollar AI Partnerships with Anthropic and Fluidstack
Shares of Hut 8 Corp. (Nasdaq/TSX: HUT) experienced a significant 4% surge this week. This leap came in the wake of the energy infrastructure company’s announcement of a groundbreaking multi-gigawatt AI data center partnership with Anthropic — the AI safety startup backed by Google — and compute provider Fluidstack. This deal, potentially worth up to $7 billion over a span of 15 years, solidifies Hut 8’s evolution from a Bitcoin mining firm into a full-scale AI infrastructure powerhouse.
As per the agreement, Hut 8 is committed to developing and delivering a minimum of 245 megawatts (MW) and up to 2,295 MW of AI data center capacity for Anthropic. The first phase of this project is set to launch at Hut 8’s River Bend campus in Louisiana. The partnership is structured in tranches, providing options for Anthropic to expand to an additional 1,050 MW across Hut 8’s broader development pipeline. Google, owned by Alphabet, is providing a financial backstop for the 15-year term, highlighting the urgency among major cloud providers to secure AI compute capacity.
Asher Genoot, CEO of Hut 8, hailed the deal as the apex of the company’s “power-first” strategy. He emphasized that scaling frontier AI infrastructure is fundamentally a power challenge. Boasting a total power pipeline of 8.65 gigawatts and an expanding portfolio of data center sites across the U.S., Hut 8 is swiftly positioning itself as one of the most vital AI infrastructure builders in North America.