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Hut 8 Corp. (HUT) Discusses AI Infrastructure Partnership and Major Data Center Lease with Anthropic and Fluidstack Transcript
Hut 8 Corp. (HUT) Discusses AI Infrastructure Partnership and Major Data Center Lease with Anthropic and Fluidstack Transcript
Hut 8 Secures $7B AI Data Center Lease With Fluidstack: What Investors Need To Know
Hut 8 Corp. secured a transformative 15-year, $7B triple-net lease with Fluidstack for 245 MW at its River Bend data center. This deal accelerates HUT's pivot from crypto mining to AI-focused digital infrastructure, with Google providing a financial backstop for lease payments. Annual NOI from the lease is projected at $454M, with per-MW economics outpacing comparable deals and renewal options potentially raising contract value to $17.7B.
Hut 8, Fluidstack to Build AI Data Center for Anthropic in Louisiana
Hut 8 is partnering with Fluidstack to build a large artificial-intelligence data center in Louisiana for Anthropic, backed by a $7 billion lease, where Hut 8 will develop and deliver the power needed to run the facilities.
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Hut 8 Corp. Profile
| Capital Markets Industry | Financials Sector | Asher Kevin Genoot CEO | NASDAQ (NGS) Exchange | 44812T102 CUSIP |
| US Country | 222 Employees | - Last Dividend | 4 Dec 2023 Last Split | - IPO Date |
Overview
Hut 8 Corp. is a North American enterprise that specializes in the vertical integration of energy infrastructure with a focus on Bitcoin mining. Since its inception in 2017, the company has expanded its portfolio to include not only cryptocurrency mining but also managed services, high performance computing through colocation and cloud services, among others. Its diversified business model addresses the complex needs of digital asset mining site owners, governments, and data center developers. Based in Miami, Florida, Hut 8 Corp. has established itself as a key player in the digital assets mining sector by leveraging its expertise in energy management, construction, and technological innovation.
Products and Services
- Digital Assets Mining
Hut 8 Corp. is primarily engaged in the mining of Bitcoin, leveraging advanced mining technologies and strategic locations to maximize hashing power and energy efficiency. This segment represents the core of the company's operations, directly benefiting from the growth of the cryptocurrency market.
- Managed Services
This service is geared towards the development of energy infrastructure, covering aspects from site design and construction management to software automation and team training. Additionally, it includes energy portfolio optimization and strategic initiatives, alongside comprehensive support in finance, accounting, and safety services. These managed services are tailored to assist digital asset mining site owners and data center developers in achieving operational excellence.
- High Performance Computing – Colocation and Cloud
Hut 8 Corp. offers colocation and cloud services, providing clients with secure and efficient data center space for their high-performance computing needs. This includes hosting client’s equipment with a focus on reliability and connectivity, ensuring optimal operational uptime and scalability for businesses of all sizes.
- Other Services
Under this category, Hut 8 Corp. offers a variety of ancillary services including equipment sales and repair, as well as a suite of hosting services. These hosting services extend beyond mere space provision; the company actively monitors, troubleshoots, repairs, and maintains customer mining equipment, ensuring uninterrupted mining operations for its clients.
