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Hut 8 Signs 15-Year, 245 MW AI Data Center Lease at River Bend Campus with Total Contract Value of $7.0 Billion
15-year 245 MW IT lease valued at $7.0 billion over the base term and up to $17.7 billion if all renewal options are exercisedGoogle providing a financial
About this update from Hut 8 Corp.
[{"type":"text","content":"15-year 245 MW IT lease valued at $7.0 billion over the base term and up to $17.7 billion if all renewal options are exercisedGoogle providing a financial backstop covering obligations for the 15-year base lease termHut 8 to implement an institutional-grade execution model designed to de-risk project delivery with blue-chip counterparties—Entergy (NYSE: ETR), J.P. Morgan (NYSE: JPM), Goldman Sachs (NYSE: GS), Vertiv (NYSE: VRT), and Jacobs (NYSE: J)MIAMI, Dec. 17, 2025 /PRNewswire/ -- Hut 8 Corp. (Nasdaq: HUT) (TSX: HUT) (\"Hut 8\" or the \"Company\"), an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases, today announced that it has signed a 15-year, $7.0 billion lease (the \"Agreement\") with Fluidstack for 245 megawatts (MW) of IT capacity at its River Bend data center campus in Louisiana (the \"Transaction\"). The Agreement grants Fluidstack a Right of First Offer (ROFO) for up to an additional 1,000 MW of IT capacity at future expansion phases of the campus, subject to the expansion of power at the site.\n \n \n \n \n \n \n \nTransaction HighlightsLease Structure: Triple net (NNN) lease.Base-Term Contract Value: Total contract value of $7.0 billion over a 15-year base lease term, inclusive of a 3.0% annual base rent escalator.Counterparty Financial Support: Google, a subsidiary of Alphabet Inc. (S&P: AA+, Moody's: Aa2), is providing a financial backstop, which covers the lease payments and related pass-through obligations.NOI Contribution: Expected cumulative NOI contribution of $6.9 billion over the base lease term, translating to an expected average annual NOI contribution of $454 million.Upside Economics: Three 5-year renewal options increase potential contract value to approximately $17.7 billion; the Agreement grants Fluidstack a ROFO for up to an additional 1,000 MW of IT capacity at future expansion phases of the campus.Delivery Timeline: Initial data hall at River Bend scheduled for completion and commissioning in Q2 2027, with additional data halls scheduled to come online over the balance of 2027.Project-level Financing: Up to 85% loan-to-cost (LTC) expected to be funded by J.P. Morgan, as lead left loan underwriter, and Goldman Sachs & Co. LLC, both of whom are expected to serve as loan underwriters, subject to the neg...