🚨Hut 8, a Bitcoin mining company, has signed a 15-year, $7 billion contract to lease AI data center capacity in Louisiana, marking a major shift from Bitcoin mining toward AI infrastructure.
Under the agreement, Fluidstack will lease 245 MW of capacity, with Google providing a financial guarantee, meaning Google would cover payments if the tenant defaults. This significantly enhances the contract’s security. The first data center is expected to be completed in Q2 2027, with most construction costs financed through bank loans.
The deal highlights how crypto companies are leveraging their power access and infrastructure advantages to meet the surging demand for AI. Before Hut 8, Core Scientific and Galaxy Digital had also signed multi-billion-dollar AI contracts.
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