Hut 8 agreed to a 15-year, $7 billion lease to provide 245 MW of AI data center capacity at its River Bend campus in Louisiana. Fluidstack will lease the capacity while Google will serve as a financial backstop for lease payments and guarantees. Construction is underway and the first data hall is targeted for commissioning in Q2 2027. The project will be financed with bank loans tied to the data center, reducing Hut 8’s upfront capital needs, and follows Hut 8’s pivot into AI infrastructure including its Highrise AI subsidiary and deployment of NVIDIA H100 GPUs.

Deal is a large, long-term ($7B, 15-year) commitment with Google providing a financial backstop and Fluidstack as tenant; construction and bank-backed financing reduce Hut 8’s upfront capital requirements and follow its prior AI/GPU deployments (Highrise AI, NVIDIA H100), indicating a materially positive business development for the company.