Bitcoin miner Hut 8 has expanded its pivot toward artificial intelligence infrastructure, signing a second 15-year lease valued at $9.8 billion for its AI data center operations. The deal reflects a growing trend among cryptocurrency mining companies seeking to diversify revenue by leasing computing capacity to AI firms, which require substantial power and data center resources. News of the agreement sent Hut 8's shares higher, signaling investor approval of the strategic shift. Bitcoin miners have increasingly explored AI-related opportunities as they look to leverage existing energy contracts and facilities beyond volatile mining income. The long-term nature of the lease could provide Hut 8 with more predictable cash flow. The announcement adds to a broader movement in the industry where firms are repositioning their infrastructure to capitalize on surging demand for AI computing power.
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