News of Hut 8's $9.8B, 15-year AI lease sent HUT stock surging 10% and pulled MARA stock up 8% while RIOT stock rose 4%, even as Bitcoin traded sideways.
The WGMI Bitcoin-miner ETF jumped 8% with the cohort, and Riot Platforms' $636 million AMD lease at Rockdale proves the miner-to-AI pivot already generates real revenue.
Hut 8's total contracted portfolio hit $26.6B with expected annual NOI above $1.75 billion, while analysts have set their price targets as high as $226.
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Marathon Digital didn't make the cut. Grab the names FREE today.
Shares of Hut 8 (NASDAQ:HUT) are surging in Monday morning trading, with the stock up 10% to $100.58 after the energy infrastructure operator announced a second hyperscale AI data center lease that fully commercializes its flagship Texas campus. The move extends a volatile stretch for the name, which had fallen 23% over the past month heading into the announcement.
The rally is dragging peer miners higher in sympathy. Marathon Digital (NASDAQ:MARA) shares are up 8% to $11.57, and Riot Platforms (NASDAQ:RIOT) shares are trading 4% higher at $19.03. The CoinShares Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) is along for the ride, with the ETF up 8% to $51.58.
Notably, the sector is rallying while Bitcoin (CRYPTO:BTC) trades slightly lower over the past 24 hours at $64,317. That divergence signals the move is idiosyncratic to the AI infrastructure theme rather than a crypto beta trade.
Hut 8 signed a second 15-year, $9.8 billion lease that fully commercializes its 1-gigawatt Beacon Point AI data center campus in Nueces County, Texas. The existing high-investment-grade tenant doubled its contracted footprint to 704 MW, and the campus base-term contract value now stands at $19.6 billion, rising to as much as $50.2 billion if all renewal options are exercised.
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Marathon Digital didn't make the cut. Grab the names FREE today.
The total contracted portfolio value across Beacon Point and River Bend now reaches $26.6 billion, with expected average annual net operating income above $1.75 billion. The Phase 2 data hall spans 352 MW and is designed to NVIDIA's (NASDAQ:NVDA) DSX reference architecture, tying Hut 8 directly to the NVIDIA AI factory buildout that CEO Jensen Huang has called "the largest infrastructure expansion in human history."
Source: Yahoo Finance Top News — This article was automatically imported from the source. Read full article at original source →
