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May 6, 2026 4:00 PM

Hut 8, Cipher Digital Stocks Boom As AI Data Center Deals Fuel Rally

Hut 8 Corp. (NASDAQ:HUT) shares soared Wednesday after the company reported first-quarter results and announced another major AI data center lease, extending a rally that has swept through bitcoin miners pivoting into high-performance computing infrastructure. 

HUT stock is soaring. See the chart and price action here. 

Hut 8's New Lease Shines 

HUT was up about 32%, according to Benzinga Pro data, after Hut 8 said it commercialized the first phase of its Beacon Point AI data center campus through a 15-year lease for 352 megawatts of IT capacity with a confidential, high-investment-grade tenant. 

The deal carries $9.8 billion in base-term contract value and could reach $25.1 billion if all three five-year renewal options are exercised, according to the company's release.

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Hut 8 said the tenant ...