Hut 8 Corp. (HUT) jumps after-hours after announcing a second 15-year AI data center lease worth $9.8 billion at its Beacon Point campus in Texas. The deal fully commercializes the 1 GW site, lifts contracted revenue visibility, and reinforces the company’s shift from crypto mining to AI infrastructure.
Hut 8 Corp. (HUT) jumped 15.7% in after-hours trading after announcing a second 15-year AI data center lease worth $9.8 billion at its Beacon Point campus in Texas. The deal fully commercializes the 1 GW site and sharply expands the company’s contracted revenue base, reinforcing its pivot from crypto mining to AI infrastructure. For investors, the move signals a stronger long-duration cash flow story, but the stock still carries high volatility and execution risk.
Hut 8 Corp. (HUT) jumps in after-hours trading after announcing a major AI infrastructure deal that changes the scale of its contracted revenue base. The stock traded at $105.77 in extended hours versus a prior regular-session close of $91.45, a 15.66% move that stands out even for a high-beta name with a 6.071 beta.
Key Takeaways
Hut 8 (HUT) rose 15.66% in after-hours trading to $105.77 from a $91.45 regular close.
The clearest catalyst is Hut 8’s July 20 announcement of a second 15-year AI data center lease worth $9.8B at its Beacon Point campus in Texas.
That deal fully commercializes the 1 GW Beacon Point campus and lifts campus-level base-term contract value to $19.6B.
Across its AI data center portfolio, Hut 8 now reports 949 MW of contracted IT capacity, 1,330 MW of utility capacity, $26.6B of aggregate base-term contract value, and average annual NOI above $1.75B.
For investors, the move signals that Hut 8 is being valued more as a long-duration AI infrastructure platform than as a pure crypto miner.
Why Hut 8 Stock Is Rallying After Hours Today
The most likely reason for HUT’s sharp move is straightforward: Hut 8 said it signed a second 15-year lease worth $9.8B for 352 MW of IT capacity with the same investment-grade counterparty that took the first phase at Beacon Point. Reuters reported the deal on July 20 and noted that it fully commercializes the company’s 1-gigawatt Texas campus.
That matters because fully leased infrastructure carries a very different market narrative than a concept story. Before this announcement, investors could see the AI pivot. After this announcement, they can attach a much larger contracted value to it.
Just as important, Hut 8 said Beacon Point’s campus-level base-term contract value now stands at $19.6B. The company also said its full AI data center portfolio totals 949 MW of contracted IT capacity backed by 1,330 MW of utility capacity, with aggregate base-term contract value of $26.6B and average annual NOI of more than $1.75B.
In plain English, the market is rewarding visible, long-dated cash flow. A former bitcoin miner that can lock in investment-grade tenants on 15-year terms starts to look less like a volatile commodity proxy and more like a power-backed infrastructure platform.
Beacon Point Lease Strengthens Hut 8's AI Data Center Pivot
Hut 8’s business model has changed fast. The company describes itself as an energy infrastructure platform spanning power, digital infrastructure, and compute in the U.S. and Canada. That shift is central to today’s rally.
The new Beacon Point lease does more than add headline value. It de-risks execution by showing the full 1 GW campus is commercialized. It also extends revenue visibility through a triple-net structure and lowers counterparty concerns because Hut 8 said 100% of its contracted AI data center capacity is leased to or backstopped by investment-grade counterparties.
That investment-grade detail is not cosmetic. In infrastructure investing, tenant quality is the difference between a blueprint and a bankable asset. Investors tend to pay up for durable contracts, especially when the tenant base can support long build cycles and large capital commitments.
There is also a technical edge to the story. Hut 8 said the second phase is designed to NVIDIA’s DSX reference architecture, and the initial Phase 2 data hall delivery is expected in Q2 2028. That ties the project directly to the AI compute buildout that has been driving capital toward power-rich data center developers.
Hut 8 Financial Context: Earnings History, Valuation, and Balance Sheet Signals
Hut 8’s financial profile remains unusual, which helps explain both the upside and the risk. The company’s trailing EPS is -2.82, so this is not a simple earnings-multiple story. Instead, the stock is trading on asset value, contract value, and the market’s willingness to capitalize future infrastructure cash flows.
Recent earnings history shows why sentiment can swing hard. Hut 8 beat EPS estimates in six of the last seven reported quarters, including $0.10 in Q1 2026 versus an estimate of -0.36 on May 6, 2026. However, it also posted a sharp miss in Q4 2025, reporting -2.45 against an estimate of -0.0933 on Feb. 25, 2026. That kind of record can create a stock that trades less like a utility and more like a pressure valve.
Still, the market cap, about $10.30B, now sits against an AI portfolio that Hut 8 says carries $26.6B of aggregate base-term contract value and more than $1.75B in average annual NOI. Investors are clearly focusing on that backlog and income potential rather than on trailing EPS alone.
Financing capacity also supports the bull case. Hut 8 closed $4.25B of investment-grade senior secured notes for Beacon Point on June 9, 2026, and it previously executed $3.25B of River Bend notes. Those are large numbers for a company with Hut 8’s history, and they show capital markets are willing to fund the pivot at scale.
Analyst Support and Competitive Position Add Fuel to the HUT Rally
Today’s lease announcement is the spark, but the stock already had dry tinder around it. Analyst sentiment has been strong. Benchmark raised its price target to $165 on July 14, while BTIG raised its target to $150 on June 24. Across recent analyst coverage, the consensus rating is Buy, with 15 Buy ratings and one Hold.
That backdrop matters because bullish positioning can amplify a fresh catalyst. When a stock already has rising targets, a positive event can trigger a faster repricing as investors recalibrate what the business is worth.
Hut 8 also has a competitive angle that the market values right now: power access. In AI infrastructure, access to land, utility capacity, and interconnection is often the bottleneck. Hut 8 says its portfolio has 1,330 MW of utility capacity backing 949 MW of contracted IT capacity. That is a real asset in a market where demand for AI compute is running into power constraints.
The company still has crypto exposure, and that can add volatility. Reuters described Hut 8 as a crypto-mining turned AI data center company, which is exactly why the stock can trade with both AI enthusiasm and digital-asset sentiment. But today’s move looks company-specific, not just a sympathy trade.
What Hut 8's After-Hours Surge Means for Investors
The core takeaway is that Hut 8 just gave the market a much firmer way to value its AI pivot. A fully commercialized 1 GW campus, a $9.8B second lease, and $26.6B of aggregate base-term contract value all push the story away from speculation and toward contracted infrastructure economics.
At the same time, investors should keep the stock’s risk profile in view. HUT remains a high-beta name, it still reports negative trailing EPS, and some of the value rests on projects with delivery timelines extending to Q2 2028. That means execution, financing discipline, and tenant quality still matter more than a single sharp move.
Hut 8’s after-hours jump looks tied to a concrete and unusually large catalyst: the full commercialization of Beacon Point through a second 15-year AI lease. If regular-session trading confirms the move, the market will be signaling that Hut 8’s re-rating from miner to AI infrastructure platform still has room to run.
Hut 8 Corp. (HUT) is up because the company announced a second 15-year AI data center lease worth $9.8 billion at its Beacon Point campus. The deal fully commercializes the 1 GW site and increases visibility into long-term contracted revenue.
+Should I buy HUT stock now?
The article’s thesis is constructive because the new lease strengthens Hut 8’s AI infrastructure story and supports a higher valuation. But the stock remains volatile and execution-dependent, so investors should treat it as a high-risk growth name rather than a safe buy.
+What is the main catalyst behind Hut 8's rally?
The main catalyst is the company’s July 20 announcement of a second 15-year lease at Beacon Point for 352 MW of IT capacity. That deal lifts the campus-level base-term contract value to $19.6 billion and expands the company’s total contracted AI portfolio.
+Is Hut 8 still a crypto stock or an AI infrastructure stock?
Hut 8 now looks more like an AI infrastructure platform than a pure crypto miner. It still has crypto exposure, but the market is increasingly valuing its power capacity, long-term leases, and contracted AI data center revenue.
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