The Daily Dig
Hut 8 Corp. closed a $4.25 billion bond offering on June 9 to fund construction of its Beacon Point AI data center campus in Nueces County, Texas, near Corpus Christi. The project will deliver six data halls totaling 352 megawatts of critical IT capacity on a site of roughly 521 to 525 acres. Hut 8 representatives have described it as potentially the most compute-dense data center facility under one roof in the U.S.
The financing is structured as non-recourse, fully amortizing senior secured notes rated Baa2 by Moody's. Hut 8 closed a comparable investment-grade bond for its River Bend data center in Louisiana in April 2026, and Beacon Point priced 20 basis points tighter than that offering. Together, the two projects represent $7.5 billion in investment-grade construction financing. The Beacon Point offering was substantially oversubscribed.
An unnamed tenant rated AA- or higher has signed a 15-year, triple-net lease on the first phase, with a base contract value of $9.8 billion and three five-year renewal options that could push total contract value to approximately $25.1 billion. The campus is engineered to NVIDIA's DSX reference architecture, and the tenant will use the facility to support AI training and inference workloads.
Interconnection approvals are secured for 1 GW of total utility capacity, with initial energization targeted for Q1 2027 and preliminary data hall delivery expected in Q3 2027. NVIDIA is engaged as technology partner, Jacobs is retained as EPCM lead, and Vertiv is supporting critical digital infrastructure systems. No general contractor has been publicly named.
Across the first two phases, the campus is projected to represent roughly $17 billion in total capital investment, approximately 1,900 construction jobs, and 230 permanent operations roles.
Snapshot:
Project: Beacon Point AI Data Center Campus
Developer/Owner: Hut 8 Corp.
Issuing Entity: Beacon Point DC LLC
Location: Nueces County, Texas (near Corpus Christi)
Site Size: ~521 to 525 acres
Capacity: 352 MW critical IT load (Phase 1); 1,000 MW total planned
Data Halls: 6
Tenant: Undisclosed (rated AA- or higher)
Lease Term: 15 years, triple-net, take-or-pay
Base Contract Value: $9.8 billion
Total Contract Value (all options exercised): ~$25.1 billion
Construction Financing: $4.25 billion senior secured notes (6.129%, due 2042)
Credit Rating: Baa2 (Moody's)
Total Capital Investment (Phases 1 and 2): ~$17 billion
Construction Jobs (Phases 1 and 2): ~1,900
Permanent Operations Jobs: ~230
Initial Energization Target: Q1 2027
Preliminary Data Hall Delivery: Q3 2027
Technology Partner: NVIDIA
EPCM Lead: Jacobs
Critical Digital Infrastructure Systems: Vertiv
Lead Bookrunner: J.P. Morgan
Bookrunner: Goldman Sachs
TheJobWalk Thoughts
Nearly 1,900 construction jobs across two phases, $4.25 billion in closed non-recourse financing, and a signed lease with a credit-rated anchor tenant already in place. That is a fundamentally different risk profile than most data center work that comes to market, and for subs and suppliers deciding where to focus their business development energy, that difference is worth taking seriously.
No GC has been publicly named yet, which means the procurement structure is still being defined. That window will not stay open long with data hall delivery targeted for Q3 2027. Trade contractors who wait for a formal announcement before making contact are already behind.
The NVIDIA DSX architecture spec is also something trades need to understand before they pursue this work. At this power density, mechanical, electrical, and structural contractors will face a qualification threshold, not just a competitive one. Experience with high-density AI infrastructure is not a differentiator here. It is a baseline requirement.
