Hut 8 Shares Surge After $9.8 Billion AI Data Center Lease
Hut 8 shares increased by as much as 14% following the announcement of a $9.8 billion, 15-year lease for its AI data center in Texas, according to CoinDesk. This long-term agreement, which adds significant computing capacity, boosts confidence in the AI compute sector after recent investor doubts about data center demand.
Hut 8 Mining Corp. experienced a notable boost when its shares rose by up to 14% after revealing a $9.8 billion lease for the second phase of its Beacon Point AI data center campus located in Texas. This 15-year agreement fully commercializes the 1-gigawatt site and includes an additional 352 megawatts of computing power based on Nvidia's data center architecture.
The tenant, an investment-grade entity that previously leased the first phase, increases their total capacity commitment at the Beacon Point campus to 704 megawatts. This deal raises the total value of contracts at the site to $19.6 billion over the initial lease term, signaling strong demand for AI infrastructure.
The announcement had a ripple effect on the marketplace, lifting other companies transitioning to AI infrastructure. Additionally, stocks of other bitcoin mining firms such as Iris Energy, Cipher Mining, TeraWulf, and the CoinShares Bitcoin Miners ETF also saw gains ranging from 6.4% to 15% in early trading.
The surge in Hut 8’s share price appears to be a reversal for a sector that had recently faced scrutiny. Investors had started questioning the sustainability of the rapid expansion in data centers, particularly after developments such as Chinese companies releasing efficient open-source AI models that require less computing power. Concerns also arose from a report indicating that Meta Platforms was exploring a cloud service for AI computing capacity, which could lead to additional supply in the market.
Summary based on original reporting by Krisztian Sandor at CoinDesk, originally published Jul 20, 2026. SolanaWire does not republish source content.
Russia's Crypto Law Nears Passage Amid Sanction Evasion Efforts
Russia is approaching the final votes on its first comprehensive cryptocurrency law, which aims to regulate digital currency use for international trade. The bill, pending in the State Duma, introduces licensing for exchanges and limits domestic crypto transactions, as reported by Decrypt.
8 hours ago·Decrypt·Reported by Jose Antonio Lanz
Cardano Activates Van Rossem Hard Fork Through Community Governance
Cardano successfully implemented the Van Rossem hard fork on July 18, marking its first major upgrade entirely approved through community governance, according to Decrypt. This upgrade lowers smart contract costs and includes several technical improvements, showcasing a shift in the network's governance model away from centralized control.
9 hours ago·Decrypt·Reported by Jose Antonio Lanz
Bitcoin ETFs See Two Weeks of Inflows After Record Outflows
U.S. spot Bitcoin ETFs recorded $75.7 million in net inflows for the week ending July 17, following eight weeks of significant outflows, according to Decrypt. However, this recovery only accounts for a small fraction of the over $8.2 billion withdrawn during the preceding weeks.
10 hours ago·Decrypt·Reported by Jose Antonio Lanz
Tom Lee's Bitmine Reduces ETH Purchases, Focuses on $86M Stock Buyback
Bitmine, led by Tom Lee, slows its Ethereum purchases, acquiring only 7,430 ETH valued at about $14 million, in favor of an $86 million stock buyback. The company aims to control 5% of Ethereum's circulating supply, and now holds approximately 5.78 million ETH, making it the largest corporate holder of the cryptocurrency, as reported by Decrypt.
11 hours ago·Decrypt·Reported by Decrypt Staff
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