Bitcoin mining company Hut 8 signs $7 billion AI data center lease

Techub News, according to Cointelegraph, Bitcoin mining company Hut 8 has announced the signing of a 15-year AI data center lease valued at $7 billion, with financial guarantees provided by Google. The company’s stock rose over 1% in pre-market trading on Monday. Hut 8 currently has a market capitalization of approximately $8.6 billion, making it the third-largest publicly traded mining company.

The agreement involves 245 megawatts of capacity, marking a significant step in Hut 8’s strategic transition toward AI infrastructure. Previously, the company primarily focused on Bitcoin mining operations and currently ranks only 17th in computing power. Other publicly traded mining companies such as CleanSpark and Core Scientific have also recently announced similar AI transition plans.