Hut 8 fully commercializes 1 GW Texas AI campus with second $9.8B lease as IREN signs $2.8B in contracts; shares climb double digits

Hut 8 has solidified its status as a leader in the AI data center sector by fully commercializing its 1 GW Texas campus, securing a second $9.8 billion lease. This move coincides with IREN signing $2.8 billion in contracts, boosting both companies' stock prices significantly. The escalating trend of pivoting from bitcoin mining to AI infrastructure highlights the growing demand for advanced computing power, which is crucial for artificial intelligence applications and research. Investors are responding positively to these developments, underscoring the sector's potential for substantial growth.