Hut 8 stock surges 20% on Fluidstack AI data center deal

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Source: CryptoNewsNet Original Title: Hut 8 stock surges 20% on Fluidstack AI data center deal Original Link: Hut 8 (HUT) shares are up 20% in pre-market trading after the company announced a landmark long term AI data center lease with Fluidstack.

The bitcoin and AI miner announced it has signed a 15 year, $7 billion lease with AI infrastructure firm Fluidstack for 245 megawatts (MW) of IT capacity at its River Bend campus in Louisiana. It also grants Fluidstack a Right of First Offer (ROFO) for up to an additional 1,000 megawatts of IT capacity as the campus expands.

The agreement includes three 5 year renewal options, increasing the potential total contract value to approximately $17.7 billion.

Google is providing a financial backstop for the base lease term, significantly reducing counterparty risk. Hut 8 expects the deal to deliver $6.9 billion of cumulative net operating income over 15 years, or around $454 million per year.

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