On July 20, Hut 8 Mining Corp rose 11.21% in regular trading, trading at $101.47/share, with turnover of $96.67 million. The rally was driven by the company's announcement of a second 15-year triple-net lease agreement valued at $9.8 billion, fully commercializing the 1-gigawatt Beacon Point AI data center campus in Nueces County, Texas.

The lease covers 352 megawatts of IT capacity and was signed with the same high-investment-grade tenant that committed to the first phase, bringing total contracted capacity to 704 MW and cumulative base contract value to $19.6 billion. The second phase will support an AI factory built to Nvidia's DSX reference architecture, with initial delivery expected in Q2 2028. Each lease includes three five-year renewal options, potentially pushing campus-level contract value to approximately $50.2 billion if fully exercised.

The announcement serves as a strong validation of Hut 8's asset value after the stock had fallen over 15% in mid-July on concerns that Meta's plans to enter the AI compute supply side could erode independent leasing operators' pricing power. Sector peer IREN rose 10.38% in the same session.

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