Bitcoin (BTC) miner Hut 8 News: $7B Google-backed deal sends stock soaring

December 17, 2025

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The bitcoin miner deepened its pivot into AI infrastructure with a $7 billion long term lease backed by Google.

By James Van Straten, AI Boost|Edited by Stephen Alpher

Updated Dec 17, 2025, 1:56 p.m. Published Dec 17, 2025, 1:56 p.m.

Hut 8 (HUT) signed a 15 year, $7 billion lease with Fluidstack for 245 MW of IT capacity at its River Bend campus, with three 5 year renewal options lifting potential contract value to about $17.7 billion.
Google is providing a financial backstop for the base lease term, while JPMorgan and Goldman Sachs are expected to lead up to 85% project level financing.
Hut 8 shares are up around 20% in pre-market trading.

Hut 8 (HUT) shares are up 20% in pre-market trading after the company announced a landmark long term AI data center lease with Fluidstack.

The bitcoin and AI miner announced it has signed a 15 year, $7 billion lease with AI infrastructure firm Fluidstack for 245 megawatts (MW) of IT capacity at its River Bend campus in Louisiana. It also grants Fluidstack a Right of First Offer (ROFO) for up to an additional 1,000 megawatts of IT capacity as the campus expands.

The agreement includes three 5 year renewal options, increasing the potential total contract value to approximately $17.7 billion.

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Google is providing a financial backstop for the base lease term, significantly reducing counterparty risk. Hut 8 expects the deal to deliver $6.9 billion of cumulative net operating income over 15 years, or around $454 million per year.

The River Bend facility is scheduled to begin commissioning in the second quarter of 2027, with project level debt financing expected to cover up to 85% of total development costs. JPMorgan is acting as lead left underwriter, alongside Goldman Sachs.

The announcement follows Cipher Mining’s (CIFR) recent 10-year high performance computing deal with Fluidstack, which also included Google backing.

AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

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