Hut 8 Powers Anthropic's $35 Billion AI Deal with Texas Site
Hut 8, a Canadian bitcoin mining company, has secured a significant deal with AI giant Anthropic. Hut 8's Texas power site will help power Anthropic's latest computing contract, which is valued at $35 billion. The capacity from Hut 8's Beacon Point campus in Nueces County, Texas, will be used to support Lambda, an AI cloud company backed by Nvidia.
The deal highlights the growing trend of bitcoin miners being involved in AI deals. Companies like Hut 8, TeraWulf, IREN, and Bitdeer have spent years securing power and building data centers for bitcoin mining, only to find new opportunities in the AI market. In fact, public miners had already signed more than $70 billion worth of AI and high-performance computing contracts as weak bitcoin-mining economics pushed capital toward data centers.
Hut 8's Beacon Point campus covers 525 acres and has access to up to 1 gigawatt of power. The company previously disclosed two 15-year leases at the site, covering 704 megawatts of IT capacity without naming the tenant. The leases carry a contracted value of $19.6 billion over their initial terms.