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

(Background: Breaking News » Bitcoin miner Hut 8 partners with Trump’s son to establish new mining company “American Bitcoin”)
(Additional context: AI is killing miners: “Energy squeeze” opens a new cycle, what kind of fate awaits mining companies?)

Table of Contents

• Details of the Agreement
• What is Fluidstack?
• Hut 8 Stock Price Surges

Bitcoin mining company Hut 8 Corp. (HUT) announced today (17th) that it has signed a 15-year lease agreement valued at $7 billion with AI cloud platform Fluidstack, leasing 245 MW of IT 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

Details of the Agreement

This agreement adopts a Triple Net Lease structure, with a total contract value of $7 billion over the basic 15-year term, including a 3% annual rent increase mechanism. Hut 8 expects this lease to generate a cumulative net operating income (NOI) of $6.9 billion, contributing approximately $454 million annually on average. If Fluidstack exercises three 5-year renewal options, the total value could further increase to about $17.7 billion.

Additionally, the agreement grants Fluidstack a Right of First Offer (ROFO) for up to 1,000 MW of additional IT capacity in future expansion phases of the campus, potentially making River Bend one of the largest data centers in the world.

Regarding project execution, Hut 8 is collaborating with several blue-chip organizations, including power provider Entergy, financing underwriters J.P. Morgan and Goldman Sachs, critical infrastructure supplier Vertiv, and engineering partner Jacobs. It is estimated that up to 85% of project costs will be financed through loans, with Google providing full financial guarantees covering lease payments and related obligations. The first data hall is expected to be completed and operational by Q2 2027, with the remaining halls coming online throughout 2027.

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

What is Fluidstack?

Fluidstack is an AI cloud platform founded in 2017, specializing in providing large-scale GPU clusters and supercomputer infrastructure for cutting-edge AI labs, enterprises, and government agencies. The company primarily serves AI model training and inference needs. It has deep collaborations with top AI firms like Anthropic and is regarded as a leading provider in the AI cloud computing field.

Hut 8 Stock Price Surges

According to Google Finance data, driven by this major deal news, Hut 8’s US stock pre-market surged nearly 25%, with market capitalization rising to about $4 billion, reflecting investors’ optimistic outlook on the company’s successful transition into AI infrastructure.