BlockBeats News, September 1st, AI company Anthropic has reached a $35 billion computational power purchase agreement with NVIDIA-backed AI cloud service provider Lambda, where part of the computational power will be provided through Bitcoin mining firm Hut 8's Beacon Point facility in Nueces County, Texas.

Previously, Hut 8 disclosed that the facility had signed two 15-year long-term leases covering 704MW of IT capacity, with a total value of $19.6 billion during the contract period, but did not disclose the tenant's identity. The 525-acre facility has a maximum 1GW power-on capacity and ready-made grid connections. According to the current transaction structure, NVIDIA holds the facility lease, Lambda will deploy NVIDIA chips, and Anthropic will purchase the generated computational power. Hut 8 has not yet confirmed how much of the 704MW capacity is specifically related to Lambda and Anthropic, nor has it confirmed whether NVIDIA is the undisclosed tenant.

With the surge in power and computational demands from AI data centers, Bitcoin mining companies with ready-made power and grid access are rapidly transforming into AI infrastructure. Mining companies including Hut 8, TeraWulf, IREN, and Bitdeer have entered the AI data center market through the sale or lease of computational power and power infrastructure.

In the second quarter of this year, Hut 8's revenue was $74.93 million, an 81% year-on-year increase; its Beacon Point two leases total $19.6 billion, and it is expected to generate an estimated annual operating profit of around $1.31 billion after the facility is fully operational.