Entergy Louisiana announced a 15‑year lease with Hut 8 Corp. for 245 MW of IT capacity at its River Bend data‑center campus in Louisiana. The agreement, valued at $7 billion, includes a right‑of‑first‑offer for up to an additional 1,000 MW, giving Entergy a long‑term, high‑volume power contract that will be backed by a financial backstop from Google.
The lease aligns with Entergy’s strategy to capture the growing AI and data‑center market in the Gulf South, adding a predictable revenue stream to the utility’s regulated electric business. Google’s financial backstop reduces risk for Entergy and signals confidence in the project’s viability.
Construction of the initial data halls is expected to be completed by early 2027, positioning Entergy to meet the rising demand for AI workloads. The project is projected to create numerous jobs during construction and once operational, supporting Louisiana’s economic development.
Hut 8’s pivot from Bitcoin mining to large‑scale AI infrastructure is underscored by this deal. The partnership with Fluidstack and Anthropic, combined with the stable power source at River Bend, gives Hut 8 a competitive advantage in the AI market.
Entergy CEO Drew Marsh described the lease as a key win, while President and CEO of Entergy Louisiana, Phillip May, noted that Louisiana continues to win and that Hut 8’s investment builds on the state’s track record of attracting global‑scale projects.
The announcement triggered a 24% surge in Hut 8’s stock in pre‑market trading, reflecting investor enthusiasm for the AI expansion and the financial backstop from Google.
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