backKing & Spalding represented Hut 8 Corp. (Hut 8) on the structuring, drafting, and negotiation of a multi-billion dollar construction agreement with Jacobs Project Management Co for the first phase of its 1 GW Beacon Point AI data center campus in Nueces County, Texas. Beacon Point is the second AI data center campus commercialized under Hut 8's power-first, greenfield development model following its River Bend site. Jacobs is working alongside Vertiv in its role supporting critical digital infrastructure systems. Phase 1 of the campus is engineered to NVIDIA's DSX reference architecture for gigawatt-scale AI factories.
This work was performed in connection with Hut 8's recently announced commercialization of the first phase of the Beacon Point campus through a 15-year, $9.8 billion triple net lease for 352 MW of IT capacity with a confidential, high-investment-grade tenant deploying dedicated compute infrastructure to support AI training and inference workloads at hyperscale. The Beacon Point transaction brings Hut 8's total contracted AI data center capacity to 597 MW of IT capacity with aggregate base-term contract value of approximately $16.8 billion.
Hut 8 is a publicly traded energy infrastructure company focused on developing, owning, and operating power, digital, and compute infrastructure. As of May 6, 2026, its platform spans 710 MW of energy capacity under management and 8,375 MW of energy capacity under construction, development, exclusivity, and diligence across the United States and Canada.
The King & Spalding team advising Hut 8 included Scott Greer, Gregg Jacobson, Bob Neufeld, and Pedro Claussen. More information about the Beacon Point data center project can be found here and here.