Hut 8 Beacon Point

Hut 8 · Corpus Christi · Nueces County

Hut 8 has leased all 704 MW of IT capacity at its 1 GW Beacon Point campus to one high-investment-grade tenant, reported to be Nvidia. Four companies split the campus: Hut 8 owns it, Nvidia leases it, Lambda operates the GPUs and Anthropic buys the compute.

Who holds each layer of the Beacon Point deal WHO HOLDS EACH LAYER LAND AND SITE Hut 8, 525 acres POWER AEP Texas, 1,000 MW interconnection BUILDINGS AND LEASE Hut 8 landlord; Nvidia lessee (reported) COMPUTE Lambda runs Nvidia GPUs (reported) OFFTAKER Anthropic, about 350 MW (reported)
Contracted
704 MW IT
Power
Grid, AEP Texas
Land
525 acres
Status
Under construction
County
Nueces
Sector
AI and data centers

Overview

A Fully Leased 1 GW Campus Near Corpus Christi

Beacon Point sits on 525 acres in Nueces County near Corpus Christi. Hut 8, a former bitcoin miner, first underwrote the site for its affiliate American Bitcoin Corp, then converted it to AI. On July 20, 2026, a second 352 MW lease with the Phase 1 tenant fully contracted the campus: two 15-year leases, 704 MW of IT load and $19.6B in base-term value.

Phase 1 and the campus substation are under construction. Initial energization is set for Q1 2027, the first Phase 1 data hall for Q3 2027 and the first Phase 2 hall for Q2 2028.

Profile
Owner and developerHut 8 Corp (Nasdaq, TSX: HUT)
TenantHigh-investment-grade company; reported as Nvidia
LocationNueces County, near Corpus Christi
Distance from AustinAbout 215 mi S
Contracted IT704 MW (two 352 MW leases)
Interconnection1,000 MW, AEP Texas
Land525 acres
DesignNvidia DSX reference architecture
EnergizationQ1 2027
StatusUnder construction

Energy model

Grid Power Through a 1,000 MW AEP Texas Interconnection

Beacon Point draws from the ERCOT (Electric Reliability Council of Texas) grid through a 1,000 MW interconnection agreement with AEP Texas, with no on-site generation. The two leases fit inside that capacity, so Phase 2 needs no new utility capacity. Hut 8 redesigned the first Phase 1 data hall to Nvidia's DSX reference architecture, fitting 57% more IT capacity into the same footprint. See ERCOT large load interconnection.

Deal structure

Hut 8 Owns, Nvidia Leases, Lambda Operates, Anthropic Buys

Hut 8's filings name the tenant only as a high-investment-grade company. Both leases are triple net (NNN), with 3% annual escalators and three five-year renewal options each; with all renewals, campus contract value reaches $50.2B. Hut 8 financed Phase 1 with $4.25B of senior secured notes at 6.129% due 2042, rated Baa2 and without recourse to Hut 8 Corp. Phase 2 financing is in planning.

On Sept 1, 2026, the Wall Street Journal reported that Anthropic signed a $35B agreement with Lambda, a GPU cloud operator, for about 350 MW at Beacon Point, and that Nvidia holds the lease. Anthropic, Lambda, Nvidia and Hut 8 have not commented. If the report holds, Lambda sells compute from GPUs in a building it does not own, under a lease held by the chipmaker.

Compare Nexus Hubbard, where Google guarantees an Anthropic lease, and IREN Sweetwater, where one company holds every layer. See Anthropic's Texas compute.

Beacon Point figures by source
ItemFigureSource
Contracted IT load704 MWHut 8 filings
Base-term value$19.6BHut 8 filings
Value with renewals$50.2BHut 8 filings
Phase 1 notes$4.25B at 6.129%, due 2042Hut 8 filings
Nvidia as lesseeNot disclosedWSJ report
Anthropic and Lambda deal$35B, about 350 MWWSJ report

Record

Dataset Record

Sources
Hut 8 (Q2 2026 results, July 20 2026 release, SEC filings), Wall Street Journal, Data Center Dynamics, W.Media, BetaNews, The Energy Mag
Last verified
October 2026