Overview
- The lease covers 245 MW of IT capacity at the River Bend campus and could reach about $17.7 billion if all renewal options are exercised.
- Google is providing a financial backstop for lease payments and related obligations over the base term, lowering counterparty risk without serving as the tenant.
- Fluidstack will operate high-performance clusters for Anthropic, with a Right of First Offer for up to 1,000 MW at River Bend and optional development of 1,050 MW across Hut 8’s pipeline for a pathway to roughly 2.3 GW.
- The initial tranche is supported by about 330 MW of utility power, with JPMorgan and Goldman Sachs expected to underwrite up to 85% loan-to-cost and Vertiv and Jacobs engaged for execution.
- Hut 8 shares jumped roughly 20%–25% in premarket trading after the announcement as the company advances its pivot from bitcoin mining to large-scale AI infrastructure.