Hut 8 Raises $3.25bn to Fund AI Campus Backed by Google and Anthropic

Data center firm Hut 8 has announced plans to sell $3.25 billion in investment-grade bonds to fund the development of its 245MW River Bend campus in Louisiana. Located in West Feliciana Parish, the River Bend project is an AI-focused data center campus that Hut 8 says could scale beyond 1GW of utility capacity.

The project involves both Google and Anthropic through an agreement—backed by Google—to lease the campus to AI cloud firm Fluidstack, as part of a broader partnership between Fluidstack and Anthropic. Proceeds from the bond sale will be used to finance construction of the data center and its associated substation, as well as reimburse Hut 8 for a portion of its prior equity contributions toward capital expenditures on the project.

In December, Hut 8 announced a 15-year, 245MW lease agreement with Fluidstack for capacity at the River Bend campus, valued at $7 billion and potentially rising to $17.7 billion if all options are exercised. At the time, CEO Asher Genoot said the company aimed to “deliver next-generation AI and high-performance computing infrastructure at scale.”