Bitcoin mining company Hut 8 won a large AI leasing order from Fluidstack worth a total of US$7 billion, and $HUT jumped 25% before the market opened.

Bitcoin mining company Hut 8 Corp. (HUT) announced today (17th) that it has signed a 15-year lease agreement with a total value of US$7 billion with the AI cloud platform Fluidstack to lease 245 megawatts (MW) of IT computing power capacity at the River Bend Data Center Park in Louisiana to the other party.
(Preliminary news: Breaking News) Bitcoin mining company Hut 8 cooperates with Trump’s son to jointly establish a new mining company "American Bitcoin")
(Background supplement: AI is killing miners: "Energy run" has opened up a new cycle, what destiny intersection do mining companies stand at?)

Contents of this article

Bitcoin mining company Hut 8 Corp. (HUT) announced today (17th) that it has partnered with AI Cloud platform Fluidstack has signed a 15-year, $7 billion lease agreement to lease 245 megawatts (MW) of IT computing capacity at its River Bend data center campus in Louisiana.

Hut 8 has signed a 15-year, $7.0 billion lease with @fluidstack for 245 MW of IT capacity at its River Bend data center campus. The Agreement grants Fluidstack a Right of First Offer for up to an additional 1,000 MW of IT capacity at future expansion phases of the campus, subject… pic.twitter.com/2A8GjaE0tK

— Hut 8 (@Hut8Corp) December 17, 2025

Contents of the agreement

This agreement adopts a triple net lease (Triple Net Lease) structure, with a total contract value of US$7 billion over a basic 15-year period, and includes annual 3% rent increment mechanism. Hut 8 expects the lease to generate cumulative net operating income (NOI) of $6.9 billion, averaging approximately $454 million per year. If Fluidstack exercises three five-year lease renewal options, the total value could further increase to approximately $17.7 billion.

In addition, the agreement also grants Fluidstack a right of first refusal (ROFO) for up to an additional 1,000 MW of IT capacity during future expansion phases of the campus, potentially making the River Bend campus one of the largest data centers in the world.

In terms of project execution, Hut 8 worked with a number of blue-chip institutions, including power provider Entergy, financing underwriters J.P. Morgan and Goldman Sachs, critical infrastructure provider Vertiv, and engineering management partner Jacobs. It is expected that up to 85% of the project costs will be financed through loan financing, with Google providing a full financial guarantee covering lease payments and related obligations. The first data hall is expected to be completed and put into production in the second quarter of 2027, and the remaining halls will be launched gradually within 2027.

Finally, this deal is also part of Hut 8’s broader collaboration with AI company Anthropic to deploy at least 245 MW, and potentially up to 2,295 MW, of AI infrastructure for Anthropic.

What is Fluidstack?

Fluidstack is an AI cloud platform company founded in 2017. It specializes in providing large-scale GPU clusters and supercomputer infrastructure for cutting-edge AI laboratories, enterprises and governments, mainly serving AI model training and inference needs. The company has in-depth cooperation with top AI companies such as Anthropic and is regarded as a leading provider in the field of AI cloud computing.

Hut 8’s stock price soared

According to Google Finance data, stimulated by the news of this major transaction, Hut 8’s US stocks jumped nearly 25% before the market opened, and its market value rose to approximately US$4 billion, reflecting investors’ optimistic expectations for the company’s successful transformation of AI infrastructure.