We just covered Billionaire Dan Loeb Pivots to AI and Sells Old Economy Stocks: His Top 7 AI Picks. Hut 8 (NASDAQ:HUT) ranks #4 (see Billionaire Dan Loeb's Top 5 AI Stock Picks).
Billionaire Dan Loeb's Stake: 869,563 Shares Valued at Approximately $40.79 Million (NEW position)
Hut 8 (NASDAQ:HUT) is transitioning from Bitcoin mining into AI data center infrastructure. It doesn't just host GPUs or sell cloud compute, it owns the underlying power and land ******* ets outright — then leases that infrastructure to hyperscalers on long-term contracts.
The bull case centers on two campuses. Hut 8's (NASDAQ:HUT) Beacon Point facility in Texas (352 MW) is leased to a high-credit tenant — widely understood to be Google — for 15 years, with a base contract value of $9.8 billion. River Bend in Louisiana (245 MW) is leased to Fluidstack as part of a broader agreement tied to Anthropic's AI infrastructure buildout, locking in another $7 billion over the base term.
The nature of its contracts makes Hut interesting. Hut 8 (NASDAQ:HUT) bears minimal operating costs once the facilities are built. The cash flows are essentially fixed, long-duration, and backed by investment-grade counterparties — much closer to bond-like income than typical tech revenue.
Billionaire Dan Loeb's Stake: 869,563 Shares Valued at Approximately $40.79 Million (NEW position)
Hut 8 (NASDAQ:HUT) is transitioning from Bitcoin mining into AI data center infrastructure. It doesn't just host GPUs or sell cloud compute, it owns the underlying power and land ******* ets outright — then leases that infrastructure to hyperscalers on long-term contracts.
The bull case centers on two campuses. Hut 8's (NASDAQ:HUT) Beacon Point facility in Texas (352 MW) is leased to a high-credit tenant — widely understood to be Google — for 15 years, with a base contract value of $9.8 billion. River Bend in Louisiana (245 MW) is leased to Fluidstack as part of a broader agreement tied to Anthropic's AI infrastructure buildout, locking in another $7 billion over the base term.
The nature of its contracts makes Hut interesting. Hut 8 (NASDAQ:HUT) bears minimal operating costs once the facilities are built. The cash flows are essentially fixed, long-duration, and backed by investment-grade counterparties — much closer to bond-like income than typical tech revenue.
4 months ago
