Hut 8
Former bitcoin miner turned energy + digital-infrastructure platform; River Bend (LA) 245 MW lease to Fluidstack for Anthropic ($7.0B, Google-backed); Highrise AI GPUaaS.
www.hut8.com · Record collected 25 Sept 2026
Profile from NeoCloud Observatory research (snapshot 2026-09-25); every figure links to its original source.
Profile
- Headquarters
- Not yet recorded
- Founded
- Not yet recorded
- Ownership
- public · undefined: HUT
- Operating regions
- North America
- Deployment model
- wholesale datacenter capacity, gpu hour rental
- GPU vendors
- Not yet recorded
- GPU generations
- Not yet recorded
- Networking
- Not yet recorded
- Storage
- Not yet recorded
- Cooling
- Not yet recorded
- Energy strategy
- Not yet recorded
- Platform / control plane
- Not yet recorded
- Business model
- Not yet recorded
- Differentiation
- Not yet recorded
Source: PR Newswire (Hut 8) — Hut 8 Signs 15-Year, 245 MW AI Data Center Lease at River Bend Campus ($7.0B)
Capacity register
Each sourced figure with its maturity and MW type. Figures of different types are not added together.
No sourced capacity figures recorded.
Projects
| Project | Location | Status | Capacity |
|---|---|---|---|
| River Bend campus (West Feliciana Parish, LA) First data hall scheduled Q2 2027. Participants: null (tenant), Anthropic (end customer), Google (financier). Source: NeoCloud Observatory research. Source: PR Newswire (Hut 8) — Hut 8 Signs 15-Year, 245 MW AI Data Center Lease at River Bend Campus ($7.0B) | St. Francisville, Louisiana, United States | under construction | 245 MW (it load, contracted) |
Disclosed customer contracts
| Customer | Value | Basis | Term | Date | Status & source |
|---|---|---|---|---|---|
| Fluidstackneocloud | $7.0B | Total contract value | 15 yr | 17 Dec 2025 | signed End user Anthropic; Google financial backing; ROFO up to +1,000 MW. Source: PR Newswire (Hut 8) — Hut 8 Signs 15-Year, 245 MW AI Data Center Lease at River Bend Campus ($7.0B) |
Neocloud Observatory
Evidence-scored analysis
Category G · Adjacent Provider · data quality 66.8/100 · snapshot 25 Sept 2026
Capacity by maturity (MW)
Each stage is reported separately and never added together. Announced GPUs never count as operational.
- Operational Unknown
- Under construction Unknown
- Contracted 245 MW
- Secured Unknown
- Announced Unknown
- Stated pipeline 2,295 MW
- Company target Unknown
- GPUs operational
- Unknown
- GPUs contracted
- Unknown
- GPUs announced
- Unknown
Financial position
- Annualised revenue
- Unknown
- Revenue growth (YoY)
- Unknown
- Backlog
- Unknown
- Disclosed contract value
- $7B
- Valuation
- Unknown
- Equity raised (captured)
- Unknown
- Debt raised (captured)
- Unknown
- Total debt (reported)
- Unknown
- Hyperscaler credit supportnot cash raised
- Unknown
Largest disclosed customer: fluidstack · 100% of disclosed contract value
Scorecard
score-v1.0 · 0–100 · scores with under 34% evidence coverage stay empty
Business Model Quality 68 evidence coverage 60%
- contracted revenue model: 80 (weight 0.4) — long-term contracted model
- model diversity: 44 (weight 0.2) — wholesale_datacenter_capacity, gpu_hour_rental
- margin: unknown (weight 0.25) — no margin data
- software upside: unknown (weight 0.15) — 0 software layers
Capital Access Insufficient evidence evidence coverage 0%
- total capital raised: unknown (weight 0.3) — UNKNOWN equity+debt captured
- raised last 12m: unknown (weight 0.25) — UNKNOWN in 12m
- valuation: unknown (weight 0.2) — no valuation UNKNOWN
- strategic backers: unknown (weight 0.15) — 0 investors known
- cost of debt: unknown (weight 0.1) — no rate disclosed
Competitive Moat Insufficient evidence evidence coverage 25%
- physical control: unknown (weight 0.3) — power/land/DC control
- software depth: unknown (weight 0.25) — 0 software layers
- contracted lock in: 62 (weight 0.25) — backlog/contract value $7.00B
- operational reputation: unknown (weight 0.2) — not rated
Concentration Risk (higher = riskier) 96 evidence coverage 100%
- top customer share: 100 (weight 0.8) — top customer ≈100%
- few customers: 80 (weight 0.2) — 1 disclosed customers
Customer Diversification 8 evidence coverage 100%
- top customer share: 0 (weight 0.6) — top customer ≈100% of disclosed value
- distinct customers: 20 (weight 0.4) — 1 disclosed customer relationships
Customer Quality 51 evidence coverage 100%
- hyperscaler or lab: 40 (weight 0.5) — 1 disclosed customers
- contracted value: 62 (weight 0.5) — disclosed contract value $7.00B
Execution Risk (higher = riskier) 97 evidence coverage 70%
- build to operating ratio: 100 (weight 0.45) — 245 MW to build vs 0 MW operating
- soft pipeline share: 90 (weight 0.25) — 2,295 MW secured/announced/speculative
- organisational youth: unknown (weight 0.3) — founded UNKNOWN
Financial Durability Insufficient evidence evidence coverage 10%
- revenue scale: unknown (weight 0.3) — annualised revenue UNKNOWN (n/a)
- net margin: unknown (weight 0.2) — no margin data
- cash: unknown (weight 0.2) — cash UNKNOWN
- backlog coverage: unknown (weight 0.2) — no backlog/revenue
- public disclosure: 80 (weight 0.1) — public company (audited)
Financial Risk (higher = riskier) Insufficient evidence evidence coverage 0%
- losses: unknown (weight 0.3) — no margin data
- debt to revenue: unknown (weight 0.3) — no debt/revenue data
- reliance on new capital: unknown (weight 0.25) — n/a
- revenue scale inverse: unknown (weight 0.15) — revenue UNKNOWN
Geographic Position 29 evidence coverage 100%
- countries: 18 (weight 0.6) — United States
- sovereign positioning: 45 (weight 0.4) — no sovereign positioning
GPU Supply Position Insufficient evidence evidence coverage 0%
- gpu fleet and contracted: unknown (weight 0.4) — 0 GPUs operational+contracted
- vendor relationship: unknown (weight 0.3) — no strategic vendor tie evidenced
- latest generation: unknown (weight 0.3) — no GPU model data
Growth Momentum 25 evidence coverage 45%
- revenue growth yoy: unknown (weight 0.4) — no growth data
- capacity momentum: 45 (weight 0.25) — 245 MW contracted/under construction
- recent major events: 0 (weight 0.2) — 0 major confirmed events in 180d
- capital raised 12m: unknown (weight 0.15) — raised UNKNOWN in 12m
Infrastructure Execution 20 evidence coverage 60%
- delivered projects: 0 (weight 0.4) — 0/1 tracked projects (partially) operational
- operational share of hard mw: unknown (weight 0.4) — 0 of 245 hard MW operational
- building now: 60 (weight 0.2) — 1 under construction
Management Execution 32 evidence coverage 50%
- delivered capacity: unknown (weight 0.5) — 0 MW delivered to date
- milestones 180d: 0 (weight 0.3) — 0 confirmed major milestones (180d)
- disclosure discipline: 80 (weight 0.2) — public reporting cadence
Operational Capacity Insufficient evidence evidence coverage 0%
- operational mw: unknown (weight 0.65) — operational MW UNKNOWN
- operational gpus: unknown (weight 0.35) — operational GPUs UNKNOWN
Power Pipeline Quality 36 evidence coverage 80%
- weighted pipeline mw: 52 (weight 0.5) — ladder-weighted 286 MW
- hard share: 10 (weight 0.3) — 10% of stated MW is operational/under construction/contracted
- physical power control: unknown (weight 0.2) — physical-layer control 0/100
Software Platform Maturity Insufficient evidence evidence coverage 0%
- software layers: unknown (weight 0.5) — none evidenced
- software control: unknown (weight 0.25) — software-layer control 0/100
- independent rating: unknown (weight 0.25) — not rated
Strategic Partnerships 30 evidence coverage 40%
- vendor equity: unknown (weight 0.4) — no vendor equity evidenced
- hyperscaler ties: 30 (weight 0.4) — none evidenced
- exemplar or rating: unknown (weight 0.2) — n/a
Technical Differentiation Insufficient evidence evidence coverage 0%
- differentiators: unknown (weight 0.7) — no clear differentiator evidenced
- independent rating: unknown (weight 0.3) — not rated
Technical Strength Insufficient evidence evidence coverage 0%
- independent rating: unknown (weight 0.45) — not rated
- exemplar cloud: unknown (weight 0.15) — n/a
- fabric evidence: unknown (weight 0.15) — fabric UNKNOWN
- stack documentation: unknown (weight 0.25) — 0 technology layers evidenced
Vertical Integration Insufficient evidence evidence coverage 0%
- stack control: unknown (weight 1) — 0 of 12 layers evidenced; 12 UNKNOWN
Career Opportunity 29 evidence coverage 44%
- growth momentum: 25 (weight 0.2) — Growth Momentum
- capital access: unknown (weight 0.15) — Capital Access
- technical strength: unknown (weight 0.12) — Technical Strength
- software platform maturity: unknown (weight 0.12) — Software Platform Maturity
- power pipeline quality: 36 (weight 0.1) — Power Pipeline Quality
- geographic position: 29 (weight 0.06) — Geographic Position
- strategic partnerships: 30 (weight 0.08) — Strategic Partnerships
- hiring: unknown (weight 0.07) — open roles (public boards)
- inv financial risk: unknown (weight 0.1) — 100 - financial risk
Data Quality 67 evidence coverage 29%
- dq coverage: unknown (weight 0) — 0.294
- dq avg confidence: unknown (weight 0) — 0.801
- dq primary source pct: unknown (weight 0) — 1.0
- dq freshness days: unknown (weight 0) — 0
- dq conflicts: unknown (weight 0) — 0
- dq missing count: unknown (weight 0) — 12
Worth Investigating? (not investment advice) 33 evidence coverage 60%
- growth momentum: 25 (weight 0.18) — Growth Momentum
- technical differentiation: unknown (weight 0.12) — Technical Differentiation
- customer quality: 51 (weight 0.12) — Customer Quality
- power pipeline quality: 36 (weight 0.12) — Power Pipeline Quality
- capital access: unknown (weight 0.12) — Capital Access
- strategic partnerships: 30 (weight 0.1) — Strategic Partnerships
- technical strength: unknown (weight 0.08) — Technical Strength
- infrastructure execution: 20 (weight 0.08) — Infrastructure Execution
- operational capacity: unknown (weight 0.08) — Operational Capacity
- novelty bonus: 0 (weight 0.3) — company ≤3 years old
Overall Scale Potential Insufficient evidence evidence coverage 50%
- power pipeline quality: 36 (weight 0.3)
- capital access: unknown (weight 0.25)
- customer quality: 51 (weight 0.2)
- operational capacity: unknown (weight 0.15)
- vertical integration: unknown (weight 0.1)
Overall Survival Probability (5y, %) 47 evidence coverage 3%
- model: unknown (weight 1) — logistic(durability, capital access, customer quality, risks)
Forecasts (rule-based, P10–P90)
| Horizon | Operational MW | Annualised revenue |
|---|---|---|
| 12 months | 98 MW (49 MW–170 MW) | Unknown |
| 24 months | 194 MW (123 MW–312 MW) | Unknown |
| 36 months | 277 MW (159 MW–429 MW) | Unknown |
| 60 months | 358 MW (207 MW–589 MW) | Unknown |
Stored in an immutable prediction ledger and scored against reported outcomes when they fall due. Predictions, not facts.
Outcome probabilities
| Outcome | 12 mo | 24 mo | 36 mo | 60 mo |
|---|---|---|---|---|
| Remain independent | 72% | 48% | 26% | 0% |
| Acquired | 11% | 21% | 30% | 40% |
| Merge | 3% | 6% | 9% | 13% |
| Fail | 14% | 26% | 36% | 47% |
| Acquire another company | 8% | 15% | 22% | 34% |
| Financial distress | 8% | 15% | 22% | 34% |
| Major cloud scale (≥2 GW operational or ≥$10B revenue) | 0% | 0% | 0% | 0% |
| Remain niche | 86% | 74% | 64% | 53% |
| Strategic pivot | 20% | 25% | 30% | 40% |
| Exit AI infrastructure | 6% | 12% | 18% | 30% |
Ownership outcomes (independent, acquired, merge, fail) sum to 100% at each horizon; the others are independent events.
Vertical-integration stack
- energy UNKNOWN No evidence captured (unknown)
- land UNKNOWN No evidence captured (unknown)
- data center UNKNOWN No evidence captured (unknown)
- power cooling UNKNOWN No evidence captured (unknown)
- gpu hardware UNKNOWN No evidence captured (unknown)
- network UNKNOWN No evidence captured (unknown)
- storage UNKNOWN No evidence captured (unknown)
- bare metal UNKNOWN No evidence captured (unknown)
- orchestration UNKNOWN No evidence captured (unknown)
- cloud api UNKNOWN No evidence captured (unknown)
- ai platform UNKNOWN No evidence captured (unknown)
- managed ai UNKNOWN No evidence captured (unknown)
Not yet sourced: revenue, revenue run rate, valuation, power mw.operational, gpu count, cash, employees, profile.hq country, profile.ceo, profile.founded year, tech stack, stack control.
Timeline
-
17 Dec 2025 · fact
Hut 8 signs $7.0B, 15-yr, 245 MW lease with Fluidstack (Anthropic end user) at River Bend
Source: PR Newswire (Hut 8) — Hut 8 Signs 15-Year, 245 MW AI Data Center Lease at River Bend Campus ($7.0B)
Recent coverage
Updated 1 Nov 2026, 11:54 UTC
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