Hut 8 Expands AI Campus Commitments While Funding Buybacks With Bitcoin Sales

Beacon Point Lease Commercialisation Drive

Hut 8 locked in a second 352-megawatt IT lease at its Beacon Point facility Tuesday, pushing aggregate base-term contract value across its AI data-centre portfolio to $26.6B according to corporate earnings filings. The latest tenant agreement fully commercialises the campus, marking an operational pivot away from traditional proof-of-work mining toward long-term digital infrastructure leasing.

Public financial disclosures confirm the firm maintains 1,330 MW of utility capacity under active construction across major data projects. Power delivery schedules stretch out across multiple years. Energy exclusivity agreements reached 3,180 MW, locking down sufficient power capacity to supply hyperscale computing partners through the end of the decade.

Treasury Liquidation and Share Buybacks

Corporate balance sheet reports show the company sold approximately 954 Bitcoin during the third quarter to fund $74.7M in open-market share repurchases. An additional 2,148 Bitcoin were subsequently liquidated to support expanded equity buyback authorizations totaling $1.00B.

Quarterly financial filings filed with regulators indicate Hut 8 also secured a $1.07B senior secured revolving credit facility. Management traded native coin reserves for equity accretion, abandoning traditional accumulation strategies in favor of direct shareholder returns.

Subsidiary Financial Results and Reserves

American Bitcoin Corp. posted $126M in net income and $221M in Adjusted EBITDA during the third quarter of 2026, according to financial statements released Wednesday. Chief Executive Officer Mike Ho stated that the firm successfully mined Bitcoin below prevailing spot market rates despite seasonal power cost headwinds.

The corporate treasury expanded its digital asset reserves without executing share sales through at-the-market programs. Management prioritized internal operational cash flow over equity dilution to preserve shareholder value. Satoshis Per Share rose by approximately 5% during the three-month window, tracking total token holdings against outstanding common shares following a 1-for-15 reverse stock split completed on July 2, 2026.

Eric Trump, Co-Founder and Chief Strategy Officer, emphasized the long-term positioning of the firm at the intersection of digital assets and domestic power grids. Disclosures accompanying the earnings report verify that approximately 3,090 tokens remain encumbered and pledged for hardware acquisitions under supply agreements with Bitmain. The enterprise operates as a majority-owned subsidiary of Hut 8 Corp.

Development Pipeline Execution Timeline

Listed delivery targets set the initial River Bend data-hall launch for the second quarter of 2027. Beacon Point Phase 1 targets commercial readiness by the third quarter of 2027.

Phase 2 construction at Beacon Point is scheduled for the second quarter of 2028 according to corporate roadmaps. Subsidiary operations continue to generate cash flow to offset infrastructure buildout costs.