Second Beacon Point 15-year lease for 352 MW
Company: Hut 8 - Project: Beacon Point
The claim, verbatim
Hut 8 announced a second 15-year lease covering 352 megawatts of computing capacity at Beacon Point with a base-term value of approximately $9.8 billion and 3% annual rent increases.
Source (primary)
Hut 8 Files $399 Million Building Project at Beacon Point AI Campus - TheEnergyMag (-, news_article)
View cached copy (2026-09-19)Live source ↗
Quote: “A second agreement announced July 20 added another 352 megawatts for the same tenant on a further 15-year lease... The agreements include 3% annual rent increases.”
How we checked this
Checked on September 24, 2026. The cited source supports every part of this claim.
The article says a second 15-year, 352-megawatt lease was announced July 20 and doubled the combined base-term value to $19.6 billion, which implies about $9.8 billion for the second lease. It also says the agreements include 3% rent escalators.
Confirmed in the source:
- Hut 8 announced a second 15-year Beacon Point lease
- The second lease added 352 megawatts of computing capacity
- The second lease brought the combined base-term value from about $9.8 billion to $19.6 billion, implying roughly $9.8 billion for the second lease
- The Beacon Point agreements include 3% annual rent increases
What we did: Read our cached copy of the publisher (https://theenergymag.com/news/2026-09-15/hut-beacon-point-ai-construction-texas) in full (4,293 characters, retrieved September 19, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Hut 8 Files $399 Million Building Project at Beacon Point AI Campus - TheEnergyMag
Quote: “A second agreement announced July 20 added another 352 megawatts for the same tenant on a further 15-year lease... The agreements include 3% annual rent increases.”