$7B deal backed by Google?
Hut 8 stock +20% already
#HUT8 is a company that used to mainly mine Bitcoin (like digging for digital gold using lots of computers and electricity).
Now they're making a smart move: they've signed a huge 15-year deal worth up to $7 billion (and possibly even $17.7 billion if extended) to rent out one of their big power sites in Louisiana.
Whoโs renting it? An AI company called Fluidstack, and itโs backed by
#Google . Theyโll use the space and power for super-fast computers that run artificial intelligence (
#AI ) stuffโlike training smart chatbots or processing huge amounts of data.
Why is this cool for Hut 8?
.
#bitcoin #Mining can be up and down (prices crash, profits drop).
.AI data centers pay steady, reliable money for years.
This deal gives them a new, stable income thatโs way bigger than just mining crypto.
After the news came out, Hut 8โs stock price jumped over 20% because investors are excitedโthey see the company becoming stronger and less risky.
Basically: Hut 8 is shifting from the wild world of crypto mining to the booming world of AI power supply. Smart pivot!