According to PR Newswire, Hut 8 Corp. released its second quarter 2026 financial results, commercializing its first gigawatt-scale AI data center campus, Beacon Point, and signing a second 352 MW IT lease agreement with a total contract value of approximately $26.6 billion, expected to generate annual net revenue exceeding $1.75 billion. The company completed $7.5 billion in project financing, including $3.3 billion for the River Bend campus and $4.25 billion for Phase One of Beacon Point. Total revenue for the second quarter was $74.9 million, an 81% increase year-over-year (compared to $41.3 million in the same period last year); net loss amounted to $177.1 million, including $138.6 million in unrealized losses on digital assets; adjusted EBITDA was $10.45 million, up 149% year-over-year. As of June 30, 2026, the company’s total development pipeline amounted to approximately 8,660 MW.
Hut 8 Completes Commercialization of Its First GW-Level AI Data Center and Signs $26.6B IT Lease
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Summary
Hut 8 Corp. announced the commercialization of its first gigawatt-scale AI data center, Beacon Point, amid strong news in AI and crypto. The company signed a second 352 MW IT lease valued at $26.6 billion, expected to generate over $1.75 billion in annual net revenue. Hut 8 also secured $7.5 billion in project financing and reported Q2 revenue of $74.9 million, an 81% year-over-year increase. The net loss for the quarter was $177.1 million, including $138.6 million in unrealized digital asset losses. Adjusted EBITDA rose 149% to $10.45 million. As of June 30, 2026, the development pipeline totaled 8,660 MW. Market observers are closely monitoring how these developments align with global inflation data.
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