Hut 8 Corp. (NASDAQ:HUT) struck a 15-year lease at Beacon Point adding 352 MW and lifting campus contracted capacity to 704 MW and AI portfolio to 949 MW, aiming energization 2027–2028, while approving a $250M buyback as it shifts mining into American Bitcoin Corp after ABTC ramped capacity despite steep 2026 share losses.
Previous Week Recap
- Hut 8 Corp. Leases 352 MW Expansion: Hut 8 (HUT) signed a 15‑year lease at Beacon Point adding 352 MW for $9.8B, lifting campus contracted capacity to 704 MW and AI portfolio to 949 MW; tenant unnamed, energize 2027–2028.
- Hut 8 Corp. Buyback Approval: Hut 8 (HUT) approved a $250M buyback for up to 5% of shares. Company continues Beacon Point build: energization aimed early 2027, Phase 2 delivery expected 2028.
- Hut 8 Corp. Shifts to ABTC: Hut 8 shifted its Bitcoin mining into majority-owned American Bitcoin Corp in March 2025. ABTC later boosted capacity and Bitcoin holdings; its shares fell over 76% in 2026.
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