The agreement covers 352 megawatts of IT capacity with a tenant described only as a confidential, high-investment-grade company that plans to deploy dedicated compute infrastructure to support AI training and inference workloads at hyperscale.
The company also redesigned the facility mid-development: An initial data hall scoped for 224 megawatts was enlarged to support a 352-megawatt AI factory—a 57% increase—within the same land and utility footprint, after Nvidia's DSX reference architecture advanced toward commercial deployment with materially higher rack-level power densities.
The deal brings Hut 8's total contracted AI data center capacity to 597 megawatts, with an aggregate base-term contract value of approximately $16.8 billion and average annual net operating income of approximately $1.1 billion. The lease includes a 3% annual rent escalator and three five-year renewal options that could push its total value to $25.1 billion.
AEP Texas has executed an interconnection agreement for the full 1,000-megawatt campus, with initial energization expected in the first quarter of 2027 and first data hall delivery anticipated in the third quarter of that year. Beyond Beacon Point, Hut 8 is pursuing a broader pipeline spanning 7,545 megawatts of energy capacity under various stages of diligence and development.
