Hut 8 Expands AI Campus Commitments While Funding Buybacks With Bitcoin Sales
Summary
Hut 8 says a second 352 MW lease fully commercialises its Beacon Point AI campus, lifting expected base-term contract value across its AI data-centre portfolio to about $26.6 billion. It has 1,330 MW of utility capacity under construction, with initial facility deliveries targeted for 2027 and 2028. The company cautions that these are future commitments, dependent on construction, power availability and financing. Hut 8 also sold Bitcoin to fund $250 million in share repurchases and secured a $1.07 billion revolving credit facility, illustrating its shift from mining toward AI data centres. Execution and profitability remain unproven.
