A second lease at the same site doubles Hut 8’s committed contract value there to $19.6 billion.

Hut 8 has signed a second AI data center lease valued at $9.8 billion at its Beacon Point site, bringing the total contract value tied to that location to $19.6 billion, according to a report from Pulse 2.0.

The new agreement stacks on top of an earlier $9.8 billion lease at the same Beacon Point site, Pulse 2.0 reported, meaning the location now carries two leases of identical value. The outlet did not disclose the tenant behind the new lease, the term length, or a target energization date beyond confirming the combined contract figure.

Beacon Point has emerged as one of Hut 8’s flagship AI infrastructure sites as the company expands beyond its original bitcoin-mining footprint into leased AI compute capacity, per Pulse 2.0’s coverage. Back-to-back leases of matching size at a single site point to a buildout proceeding in discrete, large-block phases rather than one continuous expansion.

What it means for operators: Two identically sized leases landing at one site in succession is a reminder that AI data center capacity is increasingly committed in large, discrete blocks, each of which has to be powered and cooled on a compressed timeline. Operators bringing new AI-dense capacity online in phases like this need visibility into power and thermal headroom at the rack and room level before the next block goes live, not after it is already drawing load.

Source: Pulse 2.0