Hut 8 (HUT) shares closed about 10% higher on Monday after the company announced a second 15-year lease worth $9.8 billion at its Beacon Point AI data center campus in Nueces County, Texas. The deal fully commercializes the one-gigawatt facility, with the existing “high-investment-grade” tenant doubling its contracted IT capacity to 704 megawatts.
This second triple-net lease was executed on substantially the same terms as the first phase lease secured in May, including a 3% annual base rent escalator and three five-year renewal options.
