Hut 8 shares surge after signing $9.8B AI data center lease

Hut 8 Mining Corp (TSX:HUT, Unlisted (US):HUTMF) shares surged nearly 33% on Wednesday after the cryptocurrency miner-turned-AI infrastructure developer announced a $9.8 billion, 15-year triple-net lease with a high investment-grade tenant, marking a major milestone in the company's strategic shift toward hyperscale AI data center development. The lease, tied to the company's Beacon Point campus, covers 352 megawatts of engineered capacity built to Nvidia specifications.