Hut 8 shares jump as ex-bitcoin miner signs $7 billion AI data center lease

Core Insights - Hut 8 has signed a deal valued at approximately $7 billion to lease a data center in Louisiana, indicating a strategic pivot from cryptocurrency mining to meet the increasing demand for artificial intelligence infrastructure [1] Company Summary - The deal reflects Hut 8's transition from former cryptocurrency mining operations to focusing on artificial intelligence, aligning with market trends [1] - The leasing of the data center is a significant investment, showcasing the company's commitment to expanding its capabilities in the AI sector [1] Industry Summary - The demand for artificial intelligence infrastructure is surging, prompting companies like Hut 8 to adapt their business models accordingly [1] - The shift from cryptocurrency mining to AI-related services highlights a broader trend within the tech industry as firms seek to capitalize on new growth opportunities [1]