Hut 8 Raises $3.25 Billion in Bond Sale to Fund AI Data Center Campus Backed by Google and Anthropic
April 29, 2026
Hut 8 Raises $3.25 Billion in Bond Sale to Fund AI Data Center Campus Backed by Google and Anthropic
Data center operator Hut 8 has announced the sale of $3.25 billion in investment-grade bonds to finance the development of its River Bend AI data center campus in Louisiana, marking a significant step in the company’s expansion into large-scale artificial intelligence infrastructure. The move underscores the growing demand for specialized data center capacity to support advanced AI workloads, driven by partnerships with major technology firms.
The 245-megawatt River Bend campus, located in West Feliciana Parish, Louisiana, is the first phase of a broader agreement involving Google and Anthropic. Under the deal, backed by Google, the campus will be leased to AI cloud provider Fluidstack, which will operate the facility. The project is part of a larger partnership under which Hut 8 will develop and deliver up to 2.295 gigawatts of AI data center infrastructure for Anthropic, using clusters managed by Fluidstack. Hut 8 has stated that the site has the potential to scale beyond one gigawatt of utility capacity in the future.
Proceeds from the bond sale, which is due in 2042, will be used to finance the development and construction of the data center and its associated substation. Hut 8 will also be reimbursed for a portion of its prior equity contributions used for capital expenditures related to the project. According to Bloomberg, initial discussions placed the bond at a yield of 2.13 percentage points above the benchmark 10-year U.S. Treasury bond. The offering is expected to close on April 30, 2026, subject to market and other conditions.
The River Bend campus, situated on a 592-acre site secured by Hut 8 in early 2024, was originally planned for Bitcoin mining and AI workloads. In December 2025, the company announced a 15-year, 245-megawatt lease with Fluidstack for capacity at the campus, a deal valued at $7 billion and potentially rising to $17.7 billion if all options are exercised. At the time, Hut 8 CEO Asher Genoot stated that the company was expecting to “deliver next-generation AI and high-performance computing infrastructure at scale.”
Hut 8 currently operates or has in development approximately a dozen data centers, including six Bitcoin mining facilities and five colocation data centers. The company describes itself as an energy infrastructure platform specializing in industrial-scale energy and data center infrastructure. The River Bend project highlights the increasing convergence of cryptocurrency mining and AI data center development, as firms seek to leverage existing energy assets and expertise to meet the surging demand for compute capacity from AI companies.
Source: datacenterdynamics
