Hut 8 signed a second 15-year lease for 352 MW at Beacon Point, carrying $9.8 billion of base-term value. The agreement doubles the tenant's contracted campus capacity to 704 MW.
Across its AI portfolio, Hut 8 now reports 949 MW of contracted IT capacity, $26.6 billion of base-term contract value and expected average annual NOI above $1.75 billion. The counterparties are investment-grade or investment-grade-backed.
The outlook is Bullish Bias short term and Strong Bullish thereafter. Construction, financing and delivery remain substantial risks, but Hut 8 has converted its power portfolio into unusually visible long-duration contracts.