Hut 8 shares rise 10.16% premarket after securing $7B AI data center lease with Fluidstack, shifting focus from Bitcoin mining to digital infrastructure.

Hut 8 surged 10.16% in premarket trading following the announcement of a 15-year, $7.0 billion data center lease with Fluidstack, a Google-backed partner, and the sale of four natural gas-fired power plants. The shift refocuses the company on AI and high-performance computing infrastructure, with plans to develop a 500MW data center in New York. Analysts highlighted the potential for stable, contracted revenue from the lease, contrasting with the volatility of Bitcoin mining, while institutional interest and upgraded analyst ratings further supported the rally.