Anthropic will establish its computing capabilities at Hut 8's Beacon Point campus in Texas through a multi-billion-dollar agreement with the cloud provider Lambda, as reported by The Wall Street Journal.
According to the publication, Nvidia is leasing the necessary facilities from Hut 8. Lambda will install its accelerators at the site and provide services to Anthropic.
As per Reuters, the agreement between the AI developer and the cloud provider is valued at approximately $35 billion, with the project expected to deliver around 350 MW of power in Texas. This figure specifically pertains to the arrangements between Anthropic and Lambda.
At the time of reporting, shares of the mining company had fallen into the "red zone," trading at $76.22.
Source: Yahoo Finance.Previously, Hut 8 announced two long-term contracts for power leasing at Beacon Point but did not disclose the counterparty. The company has also not confirmed the involvement of Lambda and Anthropic in the project or specified which of the two contracts this arrangement pertains to.
It is worth noting that in August, IREN reported that revenue from cloud AI services had, for the first time, surpassed earnings from Bitcoin mining.