Hut 8 CEO: Investor Skepticism on Miners' Crypto-to-AI Pivot Now Over

Hut 8 CEO Asher Genoot declared on CNBC that investor skepticism around bitcoin miners' shift to AI power infrastructure has ended, citing robust demand for the company's available capacity. This follows Hut 8's May 6 announcement of a 15-year, $9.8 billion lease for 352 MW of AI data-center space at its Texas campus, which propelled shares up 33% to an all-time high of $109.88 and expanded total contracted AI capacity to 597 MW valued at $16.8 billion (potentially $25.1 billion with renewals). The progression highlights miners diversifying revenue streams, boosting sentiment for miner equities and indirect BTC support.