Mining company Hut 8 stock soars 18% on signing a $7 billion long-term computing power leasing agreement

【Blockchain Rhythm】Bitcoin mining company Hut 8 has been quite active recently. Before the US stock market opened on December 17, the stock price rose over 18%, and its market capitalization once reached $3.981 billion.

Behind this surge is substantial progress—Hut 8 has just reached a long-term leasing agreement with Fluidstack. The contract period is 15 years, with a total value of $7 billion. Essentially, Hut 8 is leasing 245 MW of IT computing capacity at the River Bend data center park to the other party.

What’s more interesting are the additional clauses. Fluidstack not only secured the existing 245 MW capacity but also obtained a right of first offer (ROFO). This means that during the park’s subsequent expansion phase, the other party can choose an additional 1,000 MW of IT capacity, provided that the park’s power supply can be expanded accordingly. This deal essentially locks in Hut 8’s revenue from computing capacity leasing in this park and also leaves room for future expansion possibilities.