On July 20, mining company Hut 8 signed a 15-year lease for the second phase of the Beacon Point AI campus in Texas, USA, valued at $9.8 billion.

Hut 8 has fully commercialized its 1 GW Beacon Point AI data center campus with a second 352 MW IT lease, bringing campus-level base-term contract value to $19.6 billion. The 15-year lease doubles the existing high-investment-grade tenant's contracted capacity at the campus to… pic.twitter.com/46BkuA6ZBe

— Hut 8 (@Hut8Corp) July 20, 2026

The agreement was made with the same tenant as the first phase of the project, although the tenant's name remains undisclosed—Hut 8 only noted the high investment grade of the counterparty.

Hut 8 will add 352 MW of computing power based on Nvidia architecture. The total contracted capacity for the tenant at the site will increase to 704 MW.

This deal fully commercializes the 1 GW campus. The base value of contracts for Beacon Point has reached $19.6 billion, and with extension options, it could rise to $50.2 billion.

Across its portfolio of AI data centers, Hut 8 has contracted 949 MW. The total base value of agreements stands at $26.6 billion, with an average annual net operating income exceeding $1.75 billion.

Following the news, Hut 8's shares surged by 10% to $104.51. Other miners focusing on AI also saw gains: Cipher Mining shares rose by 15.4%, and TeraWulf increased by 5.4%. The CoinShares Bitcoin Miners ETF climbed by 10.6%.

Source: Yahoo Finance.

New Contracts for IREN

Meanwhile, another bitcoin miner, IREN, announced new contracts for cloud AI services worth $2.8 billion.

In light of these deals, the company has raised its annual revenue forecast for the AI Cloud segment for the end of 2026, increasing the target from $3.7 billion to over $4 billion. Approximately 85% of this amount is already secured through signed agreements.

Clients include Microsoft, Nvidia, Perplexity, Figure AI, Together AI, Fluidstack, Fireworks AI, Fal AI, and Hume AI. IREN also mentioned a new customer described as a "leading AI developer," without disclosing the name.

The new contracts involve upfront payments covering about 45% of capital expenditures for the respective GPUs, reducing the company's need for financing deployments. The weighted average term of client agreements is around four years. As of June 30, IREN held approximately $7.6 billion in cash and equivalents.

"Our vertically integrated AI Cloud platform is scaling rapidly. Over the past 12 months, we have grown from about 3 MW of our own AI Cloud capacity to 480 MW being delivered this year, with a goal of 1.2 GW by 2027," said IREN co-founder and co-CEO Daniel Roberts.

Following the announcement, IREN's shares rose by 18.7%.

Additionally, in July, mining company MARA Holdings acquired a site in Matagorda County, Texas, with a total deal value potentially reaching $600 million.

Almost simultaneously, TeraWulf announced plans to raise $3.5 billion for a data center for Anthropic.