On July 21, Hut 8 Mining Corp rose 5.89% in regular trading, trading at $105.665/share, with turnover of $27.06 million. The stock continued its rally following the announcement of a landmark lease agreement.

On the news front, Hut 8 announced the signing of a second 15-year triple-net lease valued at $9.8 billion with the same high-investment-grade customer, covering 352 MW of IT capacity. This brings the tenant's total contracted capacity at the Beacon Point campus in Nueces County, Texas to 704 MW, marking 100% commercialization of the site's 1-gigawatt utility capacity. Cumulative base contract value has reached $19.6 billion. Each lease includes three five-year renewal options, potentially elevating the campus-level contract value to approximately $50.2 billion if fully exercised. The second phase will support a 352 MW AI factory built to Nvidia's DSX reference architecture, with initial delivery expected in Q2 2028. The signing provides a strong rebuttal to concerns that arose in mid-July when the stock fell over 15% on reports of Meta potentially entering the AI compute supply space.

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