Hut 8 Strikes $7 Billion AI Deal With Fluidstack, Anthropic. The Stock Is Soaring.

A rendering of Hut 8’s River Bend data-center campus in Louisiana. (Courtesy Hut 8 Corp.)

Key Points

• Hut 8 partnered with Fluidstack and Anthropic to develop a data center in Louisiana, with Fluidstack leasing 245 megawatts for 15 years for $7 billion.
• The partnership includes options for Fluidstack to acquire up to 1,000 megawatts more and for Anthropic and Hut 8 to develop 1,050 megawatts.
• Hut 8’s shares climbed 13% on Wednesday. The stock has more than doubled this year as the company has shifted to data centers from Bitcoin mining.

Shares of Hut 8 rose sharply after the company announced a partnership with Fluidstack and the artificial-intelligence lab Anthropic to develop a data center in Louisiana.

Fluidstack, the AI cloud company, will pay $7 billion for a 15-year lease of 245 megawatts of computing capacity at Hut 8’s River Bend site in St. Francisville, La. Anthropic will be the end user for server clusters operated by Fluidstack.

The partnership gives Fluidstack the right of first offer for up to 1,000 megawatts in additional capacity at River Bend. It also gives Anthropic and Hut 8 the option to develop up to 1,050 megawatts of additional capacity at multiple sites across the U.S.

U.S.-listed shares of Hut 8 climbed 13% on Wednesday. The Canadian company, which started as a Bitcoin miner, has now seen its stock price more than double in 2025.

“Through this partnership, we are aligning power, data center
design, and compute deployment into an integrated platform capable of delivering at gigawatt scale,” said Hut 8 CEO Asher Genoot.

Hut 8 is one of several companies to have shifted their focus from Bitcoin mining to the more lucrative, but also more resource-intensive, deployment of AI data centers.

Hut 8 is the majority owner of Bitcoin miner and crypto treasury company American Bitcoin , which Genoot co-founded with Eric Trump. American Bitcoin, which also counts Donald Trump Jr. as a significant investor, went public as an independent company in September.

Write to Nate Wolf at nate.wolf@barrons.com