Hut 8 to fund Louisiana water system expansion tied to AI campus

Bitcoin miner Hut 8 committed $16 million to expand water infrastructure tied to its River Bend AI data center campus in West Feliciana Parish, Louisiana, with completion expected in H2 2026. The move supports the company’s pivot into long‑term AI infrastructure and power leasing, complementing prior 15‑year leases for 245 MW ($7B) and 352 MW ($9.8B) of capacity — a combined $16.8B in contracted lease revenue for 597 MW. Investors have rewarded the strategy, sending Hut 8 shares up ~93% year‑to‑date. However, broader miner profitability remains pressured: public miners sold more than 32,000 BTC in Q1 2026 and hashprice has fallen to roughly $35/Petahash/day, near breakeven for some operators. Overall, the investment is a positive corporate development for Hut 8 and investor sentiment toward its AI pivot, though sector profitability headwinds temper the outlook.