Hut 8 Partners with Anthropic and Fluidstack to Expand US AI Data Centers
Hut 8 secures a $7 billion, 15-year AI data center lease with Fluidstack, backed by Google, strengthening its shift beyond crypto into large-scale AI infrastructure development.
Hut 8 signed a $7 billion, 15-year lease agreement with AI infrastructure firm Fluidstack for 245 MW of capacity at its River Bend data center in Louisiana, with Google covering lease and operating costs. The deal includes three 5-year renewal options that could raise its total value to $17.7 billion. Analysts at Cantor Fitzgerald and Canaccord Genuity raised their Hut 8 price targets to $72 and $62 respectively, citing strong contract terms, projected net operating income of $6.9 billion, and enhanced valuation of the River Bend site. The agreement marks Hut 8’s continued diversification into AI infrastructure, supported by 900 MW under development and 1,255 MW under exclusivity.
- AI infrastructure: The hardware and software systems required to develop, train, and deploy artificial intelligence models, including data centers and computational resources.
- Data center: A facility housing computer systems and associated components, used to store, process, and distribute large amounts of data for services such as cloud computing and AI.
- Power usage effectiveness (PUE): A metric that measures the energy efficiency of a data center by comparing the total facility energy consumption with the energy used by computing equipment.