Hut 8 Stock Soars 10% on $9.8 Billion AI Data Center Lease, Boosting Compute Sector and Crypto Mining Stocks

Hut 8 Corp. (HUT) shares surged over 10% in premarket trading on Tuesday after the Bitcoin mining and AI infrastructure company announced a massive $9.8 billion lease agreement for an AI data center. The deal, which involves a major technology partner, will see Hut 8 develop and operate a high-performance computing facility designed to support advanced artificial intelligence workloads. This news lifted the entire compute and crypto mining sector, with shares of other miners like Riot Platforms (RIOT) and Marathon Digital (MARA) also seeing gains. The lease underscores growing institutional demand for AI computing power and Hut 8's strategic pivot toward high-value AI infrastructure, positioning it as a key player in the digital asset and AI convergence. Investors reacted positively to the revenue visibility and long-term cash flow potential from the agreement, which is expected to significantly boost Hut 8's earnings and market valuation.