Hut 8 signed a 15-year lease initially worth $9.8 billion for 352 megawatts of AI data center capacity at its Beacon Point facility in Nueces County, Texas. The new report says the agreement covers the first phase of commercializing the site, while maximum option exercise could lift total revenue to about ¥3.9 trillion, broadly aligning with the company’s earlier statement that expansion options could raise total value above $25 billion. Beacon Point had originally been planned for Bitcoin mining before being redirected to AI infrastructure, reflecting Hut 8’s diversification into large-scale computing and data center services.