Hut 8 Completes Commercialization of Beacon Point Data Center Campus in Texas

Hut 8 said its Beacon Point data center campus in Nueces County, Texas, has reached full commercialization after signing a second 15-year lease for 352 MW of IT capacity. The company said the contract is worth $9.8 billion and includes a 3% annual base rent escalator. According to Foresight News, the campus-level base contract value rises to $19.6 billion when combined with the first lease, with average annual net operating income of $131 million. The tenant, described as the same investment-grade company, doubled its contracted campus capacity to 704 MW, fully commercializing the site's 1,000 MW utility capacity. Hut 8 said its total contracted AI data center capacity now stands at 949 MW, with a base contract value of $26.6 billion and average annual net operating income above $175 million. The company said 100% of its leases are supported by investment-grade counterparties.