Bitcoin mining company Hut 8 announced that it has signed a 15-year, $9.8 billion lease agreement for the first phase of its Beacon Point AI data center campus in Nueces County, Texas, involving 352 MW of IT capacity. The tenant is an undisclosed high-investment-grade company that will use the space to support large-scale AI training and inference workloads. The agreement increases Hut 8's signed AI data center capacity to 597 MW, with the total value of the base term contracts approximately $16.8 billion, and an average annual net operating income of about $1.1 billion. AEP Texas has signed a grid connection agreement for the entire 1,000 MW campus, with preliminary power connection expected in early Q1 2027, and the first data hall is expected to be delivered in the third quarter of the same year. (Decrypt)