Bitcoin miner turned AI infrastructure provider Hut 8 has signed a 352-megawatt lease agreement with an unnamed hyperscaler at its Texas facility. The deal represents one of the larger single-site capacity commitments recorded this year. Hut 8 has been converting former mining infrastructure into high-density AI compute campuses to capture hyperscaler demand.
A 352MW lease at a single site is a significant capacity commitment that validates the brownfield conversion strategy being pursued by former crypto miners. If more hyperscalers follow this playbook, it could redirect billions in AI infrastructure spending toward repurposed mining sites rather than greenfield campuses.
Named company Hut 8, the 352MW figure, and the hyperscaler leasing context triggered selection. The scale of the single-site deal and the brownfield conversion angle ranked it among the top stories in this run.