Shares of Hut 8 (NASDAQ: HUT) surged 9% after announcing a partnership with Anthropic and a data center lease agreement. Hut 8 is transitioning to AI infrastructure, providing Anthropic with 245-2,295 MW of power. The $7 billion, 15-year deal includes financial backing from Google, J.P. Morgan, and Goldman Sachs.

Hut 8’s collaboration with Anthropic includes a $7 billion lease agreement with Fluidstack for data center infrastructure. Google, J.P. Morgan, and Goldman Sachs are providing financial support. Hut 8 CEO Asher Genoot highlighted the strength of the partnership and the innovation-driven development model. Expect average annual net operating income of $454 million.

Read more at Nasdaq: Why Hut 8 Stock Popped Today