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“Hut 8 Stock Surges Despite Earnings Miss on Massive $9.8B AI Data Center Deal” 🚨🚨🚨

Shares of Hut 8 soared more than 30% Wednesday, defying a weaker-than-expected earnings report after the company announced a massive $9.8 billion lease agreement tied to its Texas AI data center campus.

The 15-year deal will provide compute capacity to a “high-investment-grade” client, though CEO Asher Genoot confirmed the tenant is not Anthropic or Google. Investor enthusiasm around the long-term revenue potential of the agreement sent shares sharply higher in early trading.

The rally comes even as Hut 8 reported first-quarter revenue of $71 million, missing analyst expectations of $78.4 million. The company posted a net loss of $134.3 million, an improvement from the $250.7 million loss recorded a year earlier.

Despite the earnings shortfall, leadership remains focused on growth. Genoot emphasized ongoing progress across key initiatives, including the energization of Vega, early development work at River Bend, and expansion of its utility-scale power portfolio—moves aimed at strengthening near-term cash flow and long-term positioning in digital infrastructure markets.

Earlier this week, Hut 8 also secured a $200 million bitcoin-backed credit facility through FalconX, replacing its previous arrangement with Coinbase and lowering its overall debt costs.

In addition, the company has reportedly raised $3.25 billion in investment-grade bonds to help finance a turnkey data center project linked to Google, signaling continued aggressive expansion into AI and high-performance computing infrastructure.