Hut 8 Corp. announced today that it has signed a 15-year, $7.0 billion lease with Fluidstack for 245 megawatts of IT capacity at its River Bend data center campus in Louisiana.
Hut 8 Corp, once a pure-play bitcoin miner, now describes itself as an “energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases.”
The new deal gives Fluidstack the right of first offer for up to an additional 1,000 MW of IT capacity during future expansion phases of the campus, contingent on the site’s power expansion.
The agreement is also part of a broader collaboration between Hut 8 and Anthropic that could eventually scale to 2.3 gigawatts of capacity. Last month, Anthropic announced a $50 billion investment to build data centers in partnership with Fluidstack.
Asher Genoot, CEO of Hut 8, told investors, “River Bend reflects the strength of Hut 8’s power-first, innovation-driven development model, validated by the world-class counterparties we are executing alongside. This Agreement is the result of disciplined, patient execution as we focused on securing the right transaction, not just the first. Together with the State of Louisiana, Entergy, J.P. Morgan, Goldman Sachs, Vertiv, and Jacobs, we expect to deliver next-generation AI and high-performance computing infrastructure at scale, and we are committed to applying the same rigor and long-term focus as we advance commercialization across our broader development pipeline.”
Noah Wintroub, Global Chairman of Investment Banking for J.P. Morgan, said: “River Bend demonstrates how, when Hut 8 brings together the combination of innovative thinking, an aligned team, and institutional discipline to a rapidly evolving sector, it translates into real, enduring value. We’re proud to bring the full power of J.P. Morgan to bear for this project, Hut 8, and our communities to help them succeed. This project highlights our commitment to playing a role in helping America build the critical infrastructure needed to compete, while also creating jobs and investing in a region that is vital to our nation’s future.”
Bob Pragada, CEO of Jacobs, said: “Jacobs brings decades of global expertise in delivering complex infrastructure for Advanced Facilities to some of the most discerning clients in the world, and this partnership represents the next chapter in that work. Working within Hut 8’s development framework, we will apply our End-to-End EPCM and program management expertise to execute with precision and predictability, keeping Safety, quality and timelines tightly aligned. Our collaboration with Hut 8 reflects the shared discipline and ambition needed to deliver a project we believe will become the benchmark for AI infrastructure.”
Hut 8 shares increased by 21% in premarket trading, continuing the approximately 80% rise this year.
By CEO NA Editorial Staff
