Bitcoin mining firm Hut 8 has secured a major Google-backed financing deal as miners increasingly shift toward AI data centers to offset pressure from the recent Bitcoin halving. The company signed a 15-year, $7 billion lease with cloud infrastructure provider Fluidstack for 245 megawatts of capacity at its River Bend data center site in Louisiana.
The agreement includes a financial guarantee from Google, which backs lease payments for the full base term, significantly reducing risk for lenders. While Google will not operate at the site, its role as a financial backstop helped drive strong investor reaction, sending Hut 8 shares sharply higher.
The deal is one of the largest AI-focused infrastructure commitments by a publicly traded Bitcoin miner and reflects a broader industry pivot toward AI and high-performance computing as mining margins tighten.