Hut 8 AI Data Center Leases Surge to 949MW, $26.6B Contract Value

Hut 8 secures 949MW AI capacity worth $26.6B, refinances BTC debt, and raises $7.5B in project financing, though Q2 net loss hits $177M due to digital asset losses.

Woofun AI reports that Hut 8 announced its second-quarter 2026 financial results, highlighting progress in its "power-first" strategy. The company secured 949MW of contracted IT capacity for its AI data center business, representing approximately $26.6 billion in underlying contract value. This includes a second 352MW lease at the Beacon Point campus with a high-investment-grade client, adding $9.8 billion in contract value and $655 million in annual NOI.

Hut 8 generated $74.9 million in revenue, an 81% year-over-year increase, but posted a net loss of $177.1 million, primarily driven by $138.6 million in unrealized digital asset losses. The company refinanced a $200 million Bitcoin-collateralized credit facility, reducing interest costs from 9% to 7% and releasing 3,300 BTC.

Additionally, Hut 8 completed $7.5 billion in non-dilutive investment-grade project financing for its River Bend and Beacon Point campuses.