Hut 8 (a Bitcoin mining company) has just signed a 15-year contract worth 7 billion USD to lease an AI data center in Louisiana, marking a significant shift from Bitcoin mining to AI infrastructure.
According to the agreement, Fluidstack is leasing 245 MW of power, while Google provides financial backing, meaning Google will pay if the lessee encounters issues. This makes the contract very secure. The first data center is expected to be completed in Q2/2027, with most of the construction costs funded by bank loans.
The deal shows that crypto companies are leveraging electrical and infrastructure advantages to meet the booming AI demand. Before Hut 8, Core Scientific and Galaxy Digital also signed AI contracts worth billions of USD.
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