(May 6): Hut 8 Corp, a cryptocurrency miner that is shifting to developing artificial intelligence data centre capacity, has signed a lease worth at least US$9.8 billion (RM38.47 billion) over 15 years to provide computing power to a “high-investment-grade company".

The data centre developer declined to name the tenant for the new AI facility located at a campus called Beacon Point in Nueces County, Texas. The agreement may rise to a value of US$25.1 billion if the tenant exercises all three five-year extensions, Hut 8 said Wednesday in a statement.

The Beacon Point data centre is approved for as much as 1GW of electricity, which is enough to power 750,000 US homes at any one time. AEP Texas will deliver energy to the site starting in the first quarter of 2027. Hut 8 has a total of US$16.8 billion in signed leases between Beacon Point and its River Bend campus in Louisiana. Both projects involve Jacobs Solutions Inc for engineering and construction and Vertiv Holdings Co to handle issues such as cooling the data centres.

Hut 8, which reports quarterly earnings Wednesday, is a publicly traded Bitcoin miner that has been transitioning into energy and digital infrastructure. The Miami-based company owns a stake in American Bitcoin Corp, a crypto-mining firm tied to Eric Trump and Donald Trump Jr.

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