Hut 8, once a pure-play bitcoin miner, has spent the last year repositioning itself as an energy infrastructure platform.

The new deal involves partnerships with AI model developer Anthropic and infrastructure provider Fluidstack. Alphabet-owned (GOOGL.O), opens new tab Google is providing a financial backstop for the 15-year term, a move that highlights major cloud providers' urgency to secure capacity for power-intensive AI technologies.