Hut 8 Secures $7B Fluidstack Lease

Hut 8 Corp. reported on February 25 that its power-first strategy delivered operational progress for 2025, including a 15-year, $7 billion lease with Fluidstack for 245 MW at its River Bend campus, backed by Google. Total 2025 revenue rose to $235.1 million, led by $202.3 million from compute, while digital-asset volatility produced a $248 million net loss; a 310 MW sale closed February 2026.
Scoring Rationale
Strong company-scale deal and revenue growth, but impact limited to infrastructure/crypto vertical rather than broad AI market.
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