Two long-term leases at Hut 8’s Beacon Point campus in Texas cover 704 megawatts so far, with Nvidia planning to sublease GPU capacity to hyperscalers and cloud providers.
Nvidia has signed two 15-year leases at Hut 8’s Beacon Point AI data center campus in Nueces County, Texas, with a combined base value of $19.6 billion and renewal options that could lift the total to $50 billion. Hut 8 first disclosed a $9.8 billion lease for 352 megawatts on May 6, 2026, and a second lease announced on July 20 doubled contracted capacity at the site to 704 megawatts. The Financial Times and Reuters reported the full scope of the arrangement on July 28. The facility is designed to house hundreds of thousands of Nvidia graphics processing units, which Nvidia plans to sublease to hyperscalers and cloud service providers. Across Hut 8’s broader AI infrastructure portfolio, contracted IT capacity now totals 949 megawatts with a base contract value of $26.6 billion. The project also highlights Hut 8’s shift from Bitcoin mining into AI infrastructure, using a power-first model that secured a 1,000-megawatt utility interconnection through AEP Texas before the campus was fully built.