NEW ORLEANS — Hut 8 Corp. has signed a 15-year, $7.0 billion lease agreement tied to its River Bend data center campus in West Feliciana Parish, a project that state leaders say could rank among the largest private capital investments in Louisiana history and position the region as a major hub for artificial intelligence (AI) and high-performance computing infrastructure.
The agreement covers 245 megawatts of IT capacity at the River Bend campus and includes a right of first offer for up to an additional 1,000 megawatts in future expansion phases, subject to power availability at the site. The tenant, Fluidstack, will operate under a triple-net lease structure, with Google providing a financial backstop covering lease payments and related pass-through obligations.
Hut 8 said the initial data hall at River Bend is scheduled for completion and commissioning in Q2 2027, with additional data halls expected to come online later that year.
Power-First Development
The River Bend project is being developed under what Hut 8 describes as a “power-first” model, in which long-term utility capacity is secured in advance and used as the foundation for project design, tenant commitments and financing.
In Louisiana, that approach includes coordination with Entergy Louisiana, which has secured an initial 330 megawatts of utility capacity for the campus, with the potential to scale by up to an additional 1,000 megawatts as future phases advance.
“River Bend reflects the strength of Hut 8’s power-first, innovation-driven development model, validated by the world-class counterparties we are executing alongside,” said Asher Genoot, CEO of Hut 8. “This Agreement is the result of disciplined, patient execution as we focused on securing the right transaction, not just the first. Together with the State of Louisiana, Entergy, J.P. Morgan, Goldman Sachs, Vertiv, and Jacobs, we expect to deliver next-generation AI and high-performance computing infrastructure at scale, and we are committed to applying the same rigor and long-term focus as we advance commercialization across our broader development pipeline.”
Hut 8 Jobs and Regional Economic Impact
Hut 8 estimates that approximately 1,000 construction workers will be on-site at the peak of construction. Once operational, the River Bend campus is expected to create 75 or more direct jobs in West Feliciana Parish and approximately 190 indirect and induced jobs, for a total of at least 265 jobs across the Capital Region. In addition, employment is expected to expand as future phases of the campus are developed.
“Hut 8’s investment in River Bend demonstrates that Louisiana has the resources, leadership, and vision to compete for the most consequential opportunities in the world,” said Gov. Jeff Landry. “By aligning with Hut 8’s power-first approach to digital infrastructure development, we will bring thousands of jobs and billions of dollars of investment into our economy, positioning Louisiana at the forefront of an industry that will define the decades ahead.”
Phillip May, president and CEO of Entergy Louisiana, said the project builds on the state’s momentum in securing global-scale investments. “Louisiana continues to win,” May said. “Hut 8’s investment in River Bend builds on our track record of attracting global-scale projects in the industries of the future. As the campus grows, it will further cement Louisiana’s position as a national leader in energy and innovation, creating thousands of jobs and reaffirming our ability to compete and win on the global stage.”
West Feliciana Parish Boost
Long characterized by a smaller-scale, service-oriented economy, West Feliciana Parish has been seeking opportunities to broaden its tax base through selective, infrastructure-driven development, making River Bend one of the most consequential projects in the parish’s history.
“For West Feliciana Parish, River Bend is a generational opportunity,” Havard said. “It will create thousands of construction jobs, high-wage permanent positions, and new tax revenues that will strengthen our schools, healthcare, and public services for generations,” said West Feliciana Parish President Kenny Havard. “We are grateful that Hut 8 chose our parish and is working with us to ensure the project reflects our community’s values and aspirations. River Bend puts West Feliciana firmly on the map as part of the global AI economy, and we are proud to play our role in it.”
LED Incentives
Louisiana has in recent years expanded and refined its incentive framework to compete for large-scale data center and digital infrastructure projects, including programs that offer sales tax rebates on qualifying data center equipment and performance-based incentives tied to job creation and capital investment.
Hut 8 is expected to participate in Louisiana’s state and local sales and use tax rebate on qualifying purchases or leases of data center equipment, established in Act 730 of the 2024 Regular Legislative Session. Hut 8 also plans to participate in the state’s Quality Jobs program.
“River Bend demonstrates that Louisiana’s economic strategy is delivering results,” Bourgeois said. “This project will generate high-wage jobs and create pathways for Louisianans to build long-term careers in the industries of the future,” said Louisiana Economic Development Secretary Susan Bourgeois. “It’s a clear example of how aligning policy, partnership and people translates into lasting opportunity.”
Project Financing
Project-level financing is expected to cover up to 85% of total project costs, with J.P. Morgan serving as lead left loan underwriter and Goldman Sachs & Co. LLC also expected to serve as a loan underwriter, subject to the negotiation and execution of definitive agreements and customary closing conditions.
Noah Wintroub, Global Chairman of Investment Banking for J.P. Morgan, said the project highlights the role of institutional capital in large-scale infrastructure development.
“River Bend demonstrates how, when Hut 8 brings together the combination of innovative thinking, an aligned team, and institutional discipline to a rapidly evolving sector, it translates into real, enduring value,” Wintroub said. “We’re proud to bring the full power of J.P. Morgan to bear for this project, Hut 8, and our communities to help them succeed. This project highlights our commitment to playing a role in helping America build the critical infrastructure needed to compete, while also creating jobs and investing in a region that is vital to our nation’s future.”
Project Management
Jacobs Solutions is serving as engineering, procurement and construction management partner for the project, working in collaboration with Vertiv, a provider of critical digital infrastructure.
“Jacobs brings decades of global expertise in delivering complex infrastructure for Advanced Facilities to some of the most discerning clients in the world, and this partnership represents the next chapter in that work,” said Bob Pragada, CEO of Jacobs. “Working within Hut 8’s development framework, we will apply our End-to-End EPCM and program management expertise to execute with precision and predictability, keeping Safety, quality and timelines tightly aligned. Our collaboration with Hut 8 reflects the shared discipline and ambition needed to deliver a project we believe will become the benchmark for AI infrastructure.”
