Hut 8 Targets 700 MW at Beacon Point for Q1 2027 Energization

Hut 8 Corp. expects 700 MW of its Beacon Point AI data center campus to come online in Q1 2027, advancing a one-gigawatt project as the company expands its share repurchase authorization to $1 billion.

Hut 8 raised its total share repurchase authorization to $1 billion. Management expects results from a Texas audit to clear impediments to financing Beacon Point Phase 2. The audit outcome and permitting progress remain important factors for the campus schedule and Phase 2 financing.

Management also anticipates a Dec. 17 classification that would support a path to energizing the campus at its full one-gigawatt capacity. The classification is a separate milestone from the audit related to Phase 2 financing.

Previously, Hut 8 extended the Beacon Point Phase 2 lease by two years, bringing the term to 17 years and adding contracted revenue tied to 352 MW of IT capacity.

The anticipated Dec. 17 classification is the next stated milestone for the campus’ full-capacity path.