Hut 8 Corp. Data Center Capex and Sites

Note offering priced 4 June 2026

Anthropic agreed a reported $35 billion cloud computing agreement with Lambda, a San Jose based cloud provider in which Nvidia is an investor. The capacity is reported to run through Hut 8's Beacon Point campus in Nueces County, Texas, a facility of six data halls totaling 352 MW of critical IT capacity, with Nvidia holding the underlying lease and Lambda installing Nvidia systems. Neither Anthropic nor Lambda has published the contract terms, and Hut 8's project bond disclosure names the tenant only as rated AA- or higher. Press coverage places Anthropic's cumulative cloud commitments announced in recent months at approximately $175 billion.

Hut 8 signed a second 15-year lease for 352 MW of IT capacity at Beacon Point, doubling the tenant's contracted capacity to 704 MW and fully commercializing the 1,000 MW campus. The initial Phase 2 data hall is expected in Q2 2028. Hut 8 reported expected average annual NOI of $655 million for the second lease

Hut 8's wholly-owned subsidiary Beacon Point DC LLC priced a $4.25 billion private offering of 6.129% senior secured notes due 2042, described in the filing as a fully amortizing project financing that is non-recourse to Hut 8 Corp. Proceeds finance a turnkey data center of six data halls totaling 352 MW of critical IT capacity on an approximately 521-acre property in Nueces County, Texas, plus the substation on the property. The facility is to be leased to a tenant the filing states was rated AA- or higher as of the pricing date; the tenant is not named.

Black Hills signed a Large Power Contract Services Agreement and a Generation Facilities Agreement, effective 30 September 2026 with terms through 2048, to serve a planned Google data center in Cheyenne, Wyoming. The project is to be served by a total resource mix of 2.7 GW including reserve margins: up to 590 MW of grid-connected service from 564 MW of new gas generation that a non-regulated Black Hills affiliate will build at the Cheyenne Prairie Generating Station plus market energy, and about 2.1 GW of Wyoming-based third-party contracted resources managed through a private microgrid under Black Hills' Large Power Contract Service tariff. Energy service is planned to begin in late 2027 and ramp to peak load in 2030. Black Hills says Google bears all costs of serving the data center and expects the project to contribute about $150 million of net income in 2030. The release does not name the Google campus; the atlas tracks Google's 2.7 GW Project Tembo south of Cheyenne (google-project-tembo-laramie-wy).

Host Digital Infrastructure LLC signed a 15-year take-or-pay lease on 7 August 2026 with one of the world's largest privately held cloud infrastructure companies for 43 MW of critical IT load at a planned 45+ MW campus in Northeast Oklahoma, expected to be backstopped by an investment-grade technology company, with renewals to a 30-year total term and delivery expected in the first quarter of 2027. On 17 September 2026 Healthy Choice Wellness Corp. completed its merger with Host Digital Infrastructure LLC, renamed itself Host Digital Inc. and began trading as HOST on NYSE American on 18 September 2026. A preliminary prospectus supplement filed 17 September 2026 proposed a $17.5 million Class A share offering, not yet priced, and described a possible second Northeast Oklahoma site under a 12-year lease for about 16 MW (about $391 million base-term rent) that is not under contract. Project financing had not closed. Host Digital Inc. priced its underwritten offering of 2,187,500 Class A shares at $8.00 per share on 17 September 2026 and completed it on 21 September 2026 for gross proceeds of about $17.5 million, with Cantor Fitzgerald as lead book running manager; the company plans to use the net proceeds for data center investments and general corporate purposes without naming a project.

Hut 8 entered a four-year senior secured revolving credit facility of up to $1.07 billion with JPMorgan Chase Bank as administrative agent, secured by a first-priority lien on substantially all assets of Hut 8 and guarantor subsidiaries. Borrowings bear interest at Term SOFR plus 150 to 200 basis points (175 basis points at closing). The release says the letter of credit sublimit supports site development collateral such as interconnection deposits and obligations to utilities and equipment vendors, and that the parent-level liquidity funds projects through development before long-term non-recourse financing like the $7.5 billion already raised for River Bend and Beacon Point.

Keel Infrastructure Corp. announced a proposed $350 million convertible notes offering on 4 June 2026, entered the purchase agreement on 4 June and issued $458 million of 1.250% convertible senior notes due 2032 on 9 June 2026, including the initial purchasers' full $58 million option, guaranteed on a senior unsecured basis by Bitfarms Ltd. Proceeds fund capped calls and general corporate purposes, which may include deposits for long-lead equipment and collateral for letters of credit to expand or accelerate data center projects. The company said existing liquidity is expected to be sufficient to develop Panther Creek, Sharon and Moses Lake through leasing, and that the proceeds improve flexibility across its developments (see keel-panther-creek-pa and keel-sharon-pa).

Hut 8 was named the winning bidder on 23 September 2026 for two West Texas data center sites, Pyote and Tarbush, owned by bankrupt mining pool operator Poolin, with a bid of $140 million, nearly triple the $52 million stalking-horse offer from Thor CALAP LLC. Backup bids came from DigiPower X ($36.5 million for Pyote) and Pecos Industrial Development, reported as a designee of Fluidstack ($100.5 million for Tarbush). Poolin and two U.S. affiliates filed for Chapter 11 on 22 July 2026 with about $173 million of prepetition obligations; the two sites had roughly 100 MW of power allocation for Bitcoin mining before operations ceased in July 2026. The sale requires approval at a hearing scheduled for 29 September 2026. Instead of approving the sale, the U.S. Bankruptcy Court for the District of New Jersey entered a supplemental auction order on 30 September 2026 (Dkt. 272) that keeps the assets open for further bidding, with an auction on 2 October 2026 at which Hut 8, the proposed purchasers and Thor Equities are qualified to participate. Amended asset purchase agreements were filed 29 September 2026. Trade headlines of 1 October 2026 put the reopened auction at $180 million; that figure was not confirmed from a fetched source and is not recorded.

Alpha Compute amended its binding term sheet for a planned natural gas powered, 200 MW AI data center campus in northern Pennsylvania so that sellers finance $47 million of the $55 million price. The land covers about 350 surface and pore-space acres plus about 1,800 net unleased Marcellus mineral acres in Tioga County

Invitium Energy, the PPL (51%) and Blackstone Infrastructure joint venture formed to build power plants for Pennsylvania data centers under long-term supply agreements, bought land in Luzerne County and signed agreements for nearly 7,200 acres in northern Lackawanna County, with interconnection requests for gas plants of 1,500 MW and 750 MW in each county. PPL said the venture has reserved more than 5 GW of combined-cycle turbines and about 5 GW of projects in the PJM queue, and will not build without a signed agreement with a large customer. At a Fell Township planning commission meeting on Tuesday 29 September 2026, PPL, Blackstone Infrastructure and Invitium representatives said Invitium is under agreement to buy about 2,800 acres in the township, nearly 29% of its land, as part of memorandums signed in April and June 2026 for close to 7,200 acres across Archbald, Carbondale, Carbondale Township, Fell Township and Mayfield (a west campus of nearly 4,860 acres and an east campus of just over 2,200 acres). PPL treasurer Tadd Henninger said the venture would build only the power plants, with the prospect of on-site data centers owned and built by others, that no development plans exist yet and that not all of the land under contract is expected to be developable. At a Fell Township planning commission meeting on Tuesday 29 September 2026, Invitium representatives said the venture is under agreement to buy about 2,800 acres in the township, nearly 29 percent of its land, as part of memorandums signed in April and June 2026 covering close to 7,200 acres across Archbald, Carbondale, Carbondale Township, Fell Township and Mayfield, split into a west campus of nearly 4,860 acres and an east campus of just over 2,200 acres. Invitium said it would build only power plants and would not own, build or operate the data centers that could locate on site, and that it has no development plans to present yet.

Alpha Compute executed definitive real estate and asset purchase agreements for more than 300 acres of surface, mineral and gas rights in Pennsylvania covering the Utica and Marcellus formations, including more than 75 existing oil and gas wells, pump jacks, maintenance facilities, heavy equipment and gathering infrastructure, for a stated $5.5 million. The company said a planned data center there will replicate the design planned for its Northern Pennsylvania (Tioga County) site. The county was not disclosed; Marcellus Drilling News described it as a second site elsewhere in Pennsylvania. This is separate from the $55 million Tioga County land and gas rights deal already recorded.

Blockfusion, owner of the Niagara Falls, New York campus leased to CoreWeave, plans to go public through a business combination with the SPAC Blue Acquisition Corp. The latest amendment raises the earnout to up to 15 million shares at $13, $15 and $17 price thresholds and excludes a CoreWeave warrant for 2,786,624 Blockfusion shares from certain calculations. The investor presentation models about $200 million of proceeds to Blockfusion from $100 million of financing plus retained trust cash, which is an assumption, not a commitment.