Woofun AI reports that Hut 8 has fully commercialized its Beacon Point data center complex in Nueces County, Texas, following the signing of a second 15-year lease agreement. The new contract covers 352 MW of IT capacity with a total value of $9.8 billion, including an annual base rent increase of 3%. This addition brings the total base contract value for the complex to $19.6 billion, generating an average annual net operating income of $131 million. The tenant, an investment-grade company, has doubled its contracted capacity at the site to 704 MW, utilizing the full 1,000 MW of utility capacity.

Hut 8’s total signed AI data center contracts now amount to 949 MW, with a combined base contract value of $26.6 billion and an average annual net operating income exceeding $1.75 billion. All leases within the portfolio are secured by investment-grade counterparties.