Nvidia has been identified as the undisclosed investment-grade tenant behind two 15-year leases at Hut 8’s Beacon Point AI campus in Nueces County, Texas. The base value of the two leases reaches $19.6 billion, a figure that could climb to $50.2 billion if renewal options are exercised. Each lease covers 352 megawatts of IT capacity, totaling 704 megawatts, with the goal of building a 1 gigawatt data center campus. The first lease worth $9.8 billion was signed on May 6, 2026, followed by the second around July 20, 2026. Hut 8’s stock surged nearly 30% in mid-May following the announcement of the first lease.
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