Long-term agreement revitalizes AI compute stocks after concerns about data center capacity demand.
By Krisztian Sandor|Edited by Sheldon Reback Jul 20, 2026, 1:49 p.m. 1 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on Rendering of Hut 8's Beacon Point Data Center. (Hut 8/Press)SummaryShow- Shares of Hut 8 surged by as much as 14% on Monday following the announcement of a $9.8 billion, 15-year lease for the second phase of its Beacon Point AI data center in Texas.
- This agreement, made with the same investment-grade tenant as the first phase, will add 352 megawatts of AI capacity based on Nvidia technology, fully utilizing the 1-gigawatt site and increasing the tenant's total commitment to 704 megawatts, raising the campus's base contract total to $19.6 billion.
- The news also positively impacted other Bitcoin mining companies transitioning to AI infrastructure, with IREN, Cipher Mining, TeraWulf, and the CoinShares Bitcoin Miners ETF all experiencing gains in early trading.
Hut 8 (HUT), a Bitcoin miner and AI infrastructure developer, saw its shares climb as much as 14% after revealing a $9.8 billion, 15-year lease for the second phase of its Beacon Point data center campus in Texas, which in turn boosted shares across the industry.
This deal, inked with the same investment-grade tenant from the first phase, fully operationalizes the 1-gigawatt campus. Hut 8 plans to add another 352 megawatts (MW) of AI computing capacity utilizing Nvidia’s data center framework, bringing the total contracted capacity for the tenant at this location to 704 MW.
The second lease effectively brings the Beacon Point's total power capacity to full utilization and raises the campus's base contract value to $19.6 billion over the lease period.
On Monday, Hut 8 shares reached a peak of $104.51, and the announcement positively influenced other companies in the high-performance computing sector. IREN (IREN) saw a 15% increase, Cipher Mining (CIFR) rose by 11%, and TeraWulf (WULF) gained 6.4% in early trading. The CoinShares Bitcoin Miners ETF (WGMI) also advanced by 9.3%.
The surge in share prices comes after AI infrastructure firms faced a downturn in recent weeks due to investor skepticism regarding the sustainability of high spending on data centers.
Investor optimism waned after Chinese firms released AI models that seemed to require less computing power compared to their Western counterparts. Additionally, reports indicated that Facebook's parent company, Meta Platforms (META), was considering a cloud service to lease AI computing capacity, raising concerns about an oversupply impacting data center operators.
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Gate Leads Spot Market Share Gains as CEX Volumes Rise for First Time in Five Months
Gate Leads Spot Market Share Gains as CEX Volumes Rise for First Time in Five Months
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
By CoinDesk ResearchJul 13, 2026CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
Why it matters:
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
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