Hut 8 has fully commercialized its 1 GW Beacon Point AI Data Center Campus by securing a second IT lease of 352 MW. This new lease increases the campus-level base-term contract value to $19.6 billion.
Hut 8's stock received a price target boost to $165 from Benchmark, reflecting the company's successful pivot towards AI. Mark Palmer noted that Hut 8's Beacon Point project transforms the company into an AI infrastructure platform with a long growth runway.
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