Hut 8 HUT$79.67·At close made its name building infrastructure to mine bitcoin BTC$78,003.01, and a site it is developing in Texas will now help power AI giant Anthropic’s latest computing contract.
Anthropic agreed to spend $35 billion buying computing capacity from Lambda, an AI cloud company backed by Nvidia, the Wall Street Journal reported late Monday.
Some of that capacity will run through Hut 8’s Beacon Point campus in Nueces County, Texas. NVIDIA holds the lease on the facility, Lambda will use NVIDIA chips there, and Anthropic will buy the resulting computing power.
HUT initially jumped when the news hit last night, but shares are now only marginally higher in pre-market trading.
Hut 8 had previously disclosed two 15-year leases at Beacon Point covering 704 megawatts of IT capacity without naming the tenant. The leases carry $19.6 billion of contracted value over their initial terms.
The site covers 525 acres, with access to up to 1 gigawatt of power and an existing grid connection.
CoinDesk has asked Hut 8 to confirm how much of Beacon Point’s 704 megawatts of leased capacity is tied to Lambda and Anthropic, and whether Nvidia is the previously undisclosed tenant behind both leases.
Why bitcoin miners keep appearing in AI deals
AI companies need enormous amounts of electricity, and getting hundreds of megawatts connected to the grid from scratch can take years. Bitcoin miners, meanwhile, already operate large sites built around cheap power and existing grid connections — exactly the kind of infrastructure AI developers are scrambling to secure.
