Hut 8 Completes Commercialization of Its First GW-Level AI Data Center Campus

According to PR Newswire, cryptocurrency mining company and energy infrastructure platform Hut 8 Corp. (Nasdaq/Toronto Stock Exchange: HUT) released its second quarter 2026 financial results. Key highlights include: Commercialization: The company successfully commercialized its first gigawatt-scale AI data center campus, Beacon Point, and signed a second 352 MW IT lease agreement following the close of the quarter. The aggregate base term value of the contracts totals approximately $26.6 billion, covering 949 MW of committed IT capacity with investment-grade counterparties, and is expected to generate annual net operating income (NOI) exceeding $1.75 billion. Financing: The company completed $7.5 billion in investment-grade project financing for the quarter, including $3.3 billion for the River Bend campus and $4.25 billion for Phase One of Beacon Point. Both transactions represented non-dilutive, non-recourse financing, setting a precedent as the largest investment-grade construction financing for a single sponsor data center project. Financials: Total revenue for the second quarter was $74.9 million, an 81% increase compared to $41.3 million in the same period last year. Net loss amounted to $177.1 million, primarily driven by $138.6 million in unrealized losses on digital assets. Adjusted EBITDA reached $10.45 million, up 149% year-over-year. Construction: The River Bend and Beacon Point campuses together