Hut 8's Texas power site sits inside Anthropic’s $35 billion AI deal
Hut 8's Texas data center is hosting computing capacity for Anthropic, which is purchasing power through Lambda using Nvidia chips. This deal highlights a growing trend where bitcoin mining infrastructure is being repurposed to meet the massive energy demands of AI development.
Why it matters
It illustrates the strategic pivot of energy-intensive bitcoin mining firms into the lucrative AI infrastructure market.
Anthropic agreed to spend $35 billion buying computing capacity from Lambda, an AI cloud company backed by Nvidia, the Wall Street Journal reported late Monday.
Some of that capacity will run through Hut 8’s Beacon Point campus in Nueces County, Texas. NVIDIA holds the lease on the facility, Lambda will use NVIDIA chips there, and Anthropic will buy the resulting computing power.
HUT initially jumped when the news hit last night, but shares are now only marginally higher in pre-market trading.
Hut 8 had previously disclosed two 15-year leases at Beacon Point covering 704 megawatts of IT capacity without naming the tenant. The leases carry $19.6 billion of contracted value over their initial terms.
The site covers 525 acres , with access to up to 1 gigawatt of power and an existing grid connection.
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