Hut 8 Stock Soars on $9.8 Billion AI Data Center Deal
Hut 8 Corp.'s stock price surged by 8.15% on September 18, 2026, driven by a $9.8B AI data center deal and bullish sentiment from Wall Street analysts.
The company has secured a second 15-year lease for 352MW of IT capacity at its Beacon Point campus in Texas, fully commercializing the site and doubling contracted capacity to 704MW. This long-term commitment provides a solid foundation for Hut 8's revenue growth and supports its transition from a pure Bitcoin miner to an AI-focused data center operator.
The deal has sparked a bullish outlook among analysts, with Wells Fargo initiating coverage of Hut 8 Corp. with an Overweight rating and a $175 price target. The analyst's endorsement is based on the company's contracted backlog of 949MW across two campuses and its high-quality tenants.