Billionaire Dan Loeb is Buying This AI Data Center and Crypto Stock

We just covered Billionaire Dan Loeb Pivots to AI and Sells Old Economy Stocks: His Top 7 AI Picks. Hut 8 (NASDAQ:HUT) ranks #4 (see Billionaire Dan Loeb’s Top 5 AI Stock Picks).

Billionaire Dan Loeb’s Stake: 869,563 Shares Valued at Approximately $40.79 Million (NEW position)

Hut 8 (NASDAQ:HUT) is transitioning from Bitcoin mining into AI data center infrastructure. It doesn’t just host GPUs or sell cloud compute, it owns the underlying power and land assets outright — then leases that infrastructure to hyperscalers on long-term contracts.

The bull case centers on two campuses. Hut 8’s (NASDAQ:HUT) Beacon Point facility in Texas (352 MW) is leased to a high-credit tenant — widely understood to be Google — for 15 years, with a base contract value of $9.8 billion. River Bend in Louisiana (245 MW) is leased to Fluidstack as part of a broader agreement tied to Anthropic’s AI infrastructure buildout, locking in another $7 billion over the base term.

The nature of its contracts makes Hut interesting. Hut 8 (NASDAQ:HUT) bears minimal operating costs once the facilities are built. The cash flows are essentially fixed, long-duration, and backed by investment-grade counterparties — much closer to bond-like income than typical tech revenue.

Billionaire Dan Loeb bought a stake worth about $40.8 million in Hut 8 (NASDAQ:HUT) during the March quarter.

While we acknowledge the risk and potential of HUT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than HUT and that has 10,000% upside potential, check out our report about the cheapest AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy. 

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