$NVDA CEO Jensen Huang has said AI data centers could cost $80B-$100B per gigawatt in the future At this valuation, a single megawatt would sell for $60-$100M
$HUT CEO Asher Genoot: "We've signed $17B on deals in the last 6 months...and we have a pipeline of an additional 8GW. The first two deals that we signed roughly equate to 700MW, so we have another 8,000MW in our development pipeline."
For those who missed it, Anthropic filed its IPO confidentially on June 3rd targeting a $1 trillion+ valuation after raising $65 billion in Series H funding. Their annualized revenue just hit $47 billion, up from $10 billion a year ago. That’s insane growth.
Here’s the HUT connection most people aren’t talking about.
Back in December 2025, Hut 8 signed a 15 year $7 billion deal with Anthropic and Fluidstack to build 245MW of AI data center infrastructure at their River Bend campus in Louisiana, backstopped financially by Google. The deal has options to expand up to 2.3GW, potentially worth $17.7 billion total.
The tension:
HUT’s first data hall doesn’t come online until Q2 2027. Anthropic is already growing faster than almost any company in history and recently committed $100 billion to AWS separately. Their immediate compute needs aren’t waiting for a Louisiana campus to be built.
So the question is, does Anthropic’s IPO capital accelerate their expansion options with HUT, or does the speed of their growth force them toward AWS, CoreWeave and Oracle in the interim while HUT plays catch up?
My take is HUT is the long term anchor play, not the immediate demand solution. The $7B deal is real and Google backstopped, but Anthropic at a trillion dollar valuation will need infrastructure from everywhere simultaneously.
Curious what others think, does the Anthropic IPO make HUT more or less attractive as an infrastructure play?
TL;DR: Anthropic just filed for a $1T IPO with revenue growing 5x in a year. They have a $7B data center deal with HUT 8 but HUT’s first facility doesn’t open until mid 2027. Does Anthropic’s explosive growth benefit HUT through expanded deal options, or does the timeline mismatch push Anthropic toward other providers first?
No one seems to be talking about this here. But with this (and riverbend’s $3.25bn bond) they proved that they have established business model that scales without diluting shareholders.
Way to go Asher !!
Been soaring for a few weeks, what is your number?
Most miners are red today. HUT is green. That is not a meme, it is the business model showing up in the price. This is no longer a pure Bitcoin miner. It is a power first AI data center landlord that still has meaningful BTC upside.
In May, Hut 8 signed a 15 year AI data center lease in Texas worth up to about 10 billion dollars, taking total contracted AI capacity to roughly 597 MW and total contract value to around 16.8 billion dollars. These are long term, take or pay style deals with investment grade counterparties. You are buying contracted cash flows, not just block subsidies.
Q1 2026 results showed the pivot is real. Drumheller was recommissioned, putting 42 MW of previously idle capacity back to work as ASIC colocation and managed services. The company generated a few million dollars in power and services revenue, proving they can get paid for power and infrastructure even when self mining margins are thin.
On the balance sheet, Hut 8 refinanced its Bitcoin backed credit facility with a new 200 million dollar line at 7 percent, versus 9 percent before, and ended up with about 3,300 BTC unencumbered, worth roughly 260 million dollars at the start of May. That gives them both a BTC treasury and dry powder for more AI and power projects.
So when HUT trades green on a red day, I do not just see “random outperformance”. I see the market slowly re pricing it from “just another miner” to “AI infrastructure and power” with built in Bitcoin torque.
How are you positioning HUT in your portfolio right now, more as an AI / data center name or still in the miner bucket?
Insert American auction voice:
"We're selling Hut8 today. Starting at 120, can I get a 125? 125 bid, now 130, would you give me 130?"
What’s the tendancy with this stock everyone? Lowkey regret selling last week my 130 shares… now it’s up 160cad and I feel it will keep rising.
Got scared by a friend who said this stock is bound to crash…
What y all think?
Busted past the 10x threshold on today's new all-time highs.
Yes, we should have bought more. That is all...