The large-scale pivot of mining giants toward artificial intelligence is gaining new confirmation. The computing resources that Anthropic is acquiring from cloud provider Lambda under a multi-billion-dollar agreement will be hosted at Hut 8's Beacon Point campus in Texas. This strategic decision reveals a chain of partnerships linking the AI developer with the largest players in the infrastructure market.
A key detail of the deal is that Hut 8's capacity is leased directly by Nvidia, which acts as a broker and the technological core of the project. Lambda, in turn, installs Nvidia accelerators at the site and takes on operational management of services for Anthropic. This tripartite arrangement underscores the chipmaker's growing role in controlling the entire supply chain of computing resources for AI.
Financial parameters and market reaction
The value of the contract between Anthropic and Lambda is estimated at approximately $35 billion, and the project involves deploying around 350 MW of capacity in Texas. These figures reflect not only the ambitions of the participants but also a fundamental shift in the business model of traditional miners, who are increasingly diversifying their revenues through high-performance computing. At the time of publication, Hut 8 shares moved into the "red zone," falling to $76.22, which may indicate profit-taking after a recent rise on news of partnerships.
Notably, Hut 8 had previously announced two long-term contracts for leasing capacity at Beacon Point but did not disclose the counterparties. The company has still not confirmed the involvement of Lambda and Anthropic in the project, leaving room for speculation about the scale of obligations and potential risks for the miner.
The situation around Hut 8 is a vivid example of the sector's evolution. In August, IREN already reported that revenue from AI cloud services exceeded bitcoin mining income for the first time. This is a landmark trend: miners are ceasing to be hostages of cryptocurrency volatility and are becoming key suppliers of infrastructure for the AI industry.
My view: the deal with Lambda and Nvidia is not just a one-off lease but a long-term bet that demand for AI computing will grow exponentially. However, for Hut 8, it is critically important to maintain a balance between obligations to new clients and flexibility in managing energy resources. If the project pays off, we will see a wave of similar contracts among other miners, which will finally erase the line between the crypto industry and traditional data centers.