New York, United States - December 17, 2025 - Hut 8 has signed a long-term agreement to deliver 245MW of IT capacity to AI cloud provider Fluidstack, marking the first tranche of a broader, multi-gigawatt partnership aligned with Anthropic’s rapidly expanding compute requirements.
Under the deal, Fluidstack will lease the capacity at Hut 8’s River Bend campus in Louisiana for an initial 15-year term, with the base contract valued at approximately USD 7 billion over the life of the agreement. The structure also provides for significant upside through renewal options, which Hut 8 says could lift the total contract value to as much as USD 17.7 billion if fully exercised.
The agreement includes a financial backstop from Google, covering lease payments and certain pass-through obligations during the base term. This element is designed to materially reduce counterparty risk and strengthen the bankability of what Hut 8 describes as one of the largest single-site AI infrastructure commitments announced to date.
Beyond the initial 245MW tranche, Fluidstack has secured a right of first offer on up to 1,000MW of additional capacity at the River Bend site. More broadly, Hut 8 has outlined a pathway to support up to 2,295MW of AI-focused capacity across its development pipeline as part of its strategic relationship with Anthropic, positioning the company to scale alongside next-generation model training and inference demand.
Hut 8 said the River Bend project will be delivered using what it calls an institutional-grade execution model, working with a group of established partners across power, financing, engineering and infrastructure. These include Entergy as the utility partner, J.P. Morgan and Goldman Sachs on project financing, Vertiv for critical infrastructure systems, and Jacobs for engineering and construction services.
The first phase of capacity at River Bend is targeted to come online in early 2027, subject to permitting, power-delivery milestones and construction schedules. Additional phases will depend on grid expansion and customer take-up, with Hut 8 emphasising a modular approach that allows capacity to be added in line with demand.
The announcement underscores a broader shift among digital-infrastructure operators as AI workloads reshape site selection, power procurement and financing strategies. Long-term, high-density commitments backed by blue-chip counterparties are increasingly becoming a prerequisite for securing the multi-hundred-megawatt power blocks required by frontier AI models.
For Hut 8, the Fluidstack agreement represents a decisive move beyond its historical crypto-centric footprint toward becoming a large-scale provider of AI-ready digital infrastructure. For the wider market, it highlights how hyperscale AI demand is accelerating the convergence of cloud platforms, data-centre developers and energy providers around multi-gigawatt, decade-long build-outs.
