PANews reported on May 6th that, according to Decrypt, Bitcoin mining company Hut 8 announced a 15-year lease with an unnamed, highly rated firm to provide 352 megawatts of AI data center computing power at its Beacon Point campus in Nuces County, Texas. The contract is valued at approximately $9.8 billion, with an annual rent increase clause of 3% and three 5-year renewal options, potentially bringing the total value to approximately $25.1 billion. The campus was originally planned for Bitcoin mining but has since been repurposed for building AI infrastructure compliant with Nvidia's DSX architecture. Driven by the news, Hut 8's stock price surged approximately 33% in a single day, hitting an all-time high of $109.88 during trading, nearly doubling in value in the past month.