Hut 8 just locked in another multi-billion-dollar financing deal, and it has nothing to do with Bitcoin. The company’s subsidiary, Beacon Point DC LLC, priced $4.25 billion in senior secured notes to build out an AI data center campus in Nueces County, Texas.
The notes carry a 6.129% interest rate and mature on November 30, 2042. That’s a roughly 16-year runway on what amounts to one of the largest single project financings in the data center space this year.
What the money is actually building
The Beacon Point campus will span approximately 521 acres and deliver 352 MW of critical IT capacity across six data halls. The site will include a dedicated substation to handle the facility’s enormous energy demands. Initial data halls are expected to come online in Q3 2027.
This first phase is part of a larger vision. The full Beacon Point campus is designed to eventually reach 1 GW of capacity, meaning the current $4.25B finances less than half of what’s planned.
The financing is structured as non-recourse and project-level, meaning the debt stays with the subsidiary rather than climbing up to Hut 8’s corporate balance sheet. The offering targets qualified institutional buyers under Rule 144A and select non-US investors under Regulation S, with closing expected by June 9, 2026.
A $9.8B lease anchors the whole thing
A 15-year triple-net lease was signed on May 6, 2026, with a base term valued at $9.8 billion. If the tenant exercises all renewal options, the total contract value could reach approximately $25.1 billion. The tenant carries a credit rating of AA- or higher.
Hut 8 hasn’t publicly named the tenant.
From Bitcoin miner to energy infrastructure company
The Beacon Point deal follows a $3.25 billion investment-grade note offering the company previously closed for its River Bend AI campus in Louisiana. Combined, that’s $7.5 billion in project-level debt financing across two AI data center developments.