Hut 8 Texas Facility to Support Anthropic's $35 Billion AI Compute Deal

Anthropic has entered into a $35 billion compute procurement agreement with Nvidia-backed AI cloud provider Lambda. A portion of this computing power will be supplied through the Beacon Point facility in Nueces County, Texas, operated by Hut 8 (HUT). Nvidia holds the lease for the site, where Lambda will deploy Nvidia chips to fulfill Anthropic's requirements. Hut 8 previously disclosed two 15-year leases for the campus, totaling 704 MW of IT capacity with a contract value of $19.6 billion. Once fully operational, the site is projected to generate approxima