Who Hut 8 buys from and sells to
Energy and data-centre developer building AI campuses for Fluidstack and Anthropic; majority owns American Bitcoin.
Buys from 2
- Bitmainmining rigs hosted for American Bitcoin
- EntergyETRgrid power for the River Bend campus, Louisiana
Sells to 3
- Fluidstack245 MW at River Bend, Google-backstopped$7.0B 15-year lease
- Anthropicend user of the Fluidstack clusters, up to 2.3 GW
- American BitcoinABTChosting and power for its mining fleet
Where the chain could break
- River Bend rent depends on Fluidstack and Anthropic; Google backstops the base term
- First data hall not due until Q2 2027, funded by $3.25B of bonds
Competes with
- Cipher MiningCIFRFluidstack sites backed by Google
- TeraWulfWULFthe same
- Core ScientificCORZleased AI capacity
Mapped by hand from filings and company reporting, as of October 2026. It shows the relationships that matter most, not every contract: most are never disclosed, and agreements change.