Overview
- The lease covers 245 megawatts of IT capacity at Hut 8’s River Bend campus, supported by about 330 megawatts of utility power secured through Entergy.
- Alphabet’s Google is providing a financial backstop that guarantees base‑term lease payments and certain pass‑through obligations.
- Fluidstack receives a right of first offer for up to 1,000 megawatts of additional capacity at River Bend, and Hut 8 and Anthropic may assess up to 1,050 megawatts at other sites.
- JPMorgan and Goldman Sachs are expected to underwrite project‑level financing of up to roughly 85% loan‑to‑cost, with Vertiv and Jacobs engaged for infrastructure delivery.
- Initial data halls are targeted to begin commissioning in the second quarter of 2027, and Hut 8 shares rose about 20%–25% in premarket trading after the announcement.