- Hut 8 signed a 15-year, $7B lease with Fluidstack at its River Bend data center, backed by Google.
- The agreement includes major expansion rights and positions Hut 8 for large-scale AI infrastructure growth.
- Shares jumped sharply as investors reacted to the long-term revenue and strategic implications.
Hut 8 revealed Wednesday that it has signed a long-term lease agreement with Fluidstack for a significant portion of its River Bend data center campus in Louisiana. The 15-year deal covers 245 megawatts of IT capacity and carries a base value of $7 billion, with the potential to expand to roughly $17.7 billion if all renewal options are exercised. The scale and duration of the agreement immediately caught market attention, signaling a major step forward in Hut 8’s infrastructure ambitions.
Inside the River Bend Lease Agreement
The triple-net lease structure includes annual rent escalators and gives Fluidstack the right of first offer on up to an additional 1,000 megawatts of future expansion at the site. That clause alone highlights how much long-term capacity River Bend could ultimately support. The agreement is further reinforced by a financial backstop from Google, which will cover lease payments and related obligations throughout the 15-year base term. That support adds a layer of stability rarely seen in data center contracts of this size.
Hut 8 Positions for Long-Term Execution
CEO Asher Genoot described the River Bend agreement as validation of Hut 8’s development-first strategy, one centered on securing power availability and executing alongside blue-chip partners. He emphasized that the company is working closely with the State of Louisiana, Entergy, JPMorgan, Goldman Sachs, Vertiv, and Jacobs to deliver large-scale AI and high-performance computing infrastructure. According to Genoot, the same long-term discipline will guide commercialization across Hut 8’s broader pipeline.
Expanding Into AI Infrastructure
Alongside the lease announcement, Hut 8 also disclosed a new partnership with Anthropic and Fluidstack aimed at building a comprehensive AI data center network across the United States. The joint effort targets between 245 and 2,295 megawatts of capacity, signaling aggressive expansion plans tied directly to rising AI compute demand. The move positions Hut 8 beyond traditional mining infrastructure and deeper into next-generation data center development.
Market Reacts Strongly
Investors didn’t wait long to respond. Hut 8 shares surged roughly 25% in premarket trading following the announcement, according to Yahoo Finance. The stock had already closed up 4% on Tuesday, pushing its year-to-date gains to around 80%. The sharp reaction suggests the market views the deal not just as revenue visibility, but as a strategic pivot with long-term upside.
