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Deputy Prime Minister Phiphat confirmed that contracts for the high-speed rail and U-Tapao Airport projects will remain unchanged. The government plans to boost investment in the Eastern Economic Corridor and attract international tourism.

Key Points

• Deputy Prime Minister Phiphat Ratchakitprakarn confirmed that contracts for the high-speed rail project and U-Tapao Airport development will remain unchanged, as amending them could lead to legal challenges from other bidders.
• The post-pandemic period has seen passenger numbers fall below initial estimates, prompting the government to focus on increasing investment in the Eastern Economic Corridor instead of revising contracts.
• Plans include inviting investors for large-scale entertainment and sports complexes (excluding casinos) and attracting major international theme parks to enhance tourism, support airport usage, and advance both projects into construction to boost economic growth.

Deputy Prime Minister and Transport Minister Phiphat Ratchakitprakarn said the government will not amend contracts for the high-speed rail project linking three airports or the U-Tapao Airport development, confirming that both projects will proceed under their original terms. The deputy premier said any changes could lead to legal challenges from other bidders involved in the tender process.

Deputy Prime Minister Phiphat said the post-pandemic period has affected earlier projections, with passenger numbers expected to fall below initial estimates. Instead of revising contracts, the government plans to increase investment in the Eastern Economic Corridor to boost demand and support the usage of both projects.

Authorities, as part of this approach, are preparing to invite investors to develop large-scale entertainment and sports complexes in the area, with no casino operations included. Plans also include attracting major international theme parks to create new tourism destinations and increase traffic through U-Tapao Airport and the rail system.

Phiphat stated that once the new government formally delivers its policy statement, the Eastern Economic Corridor Office will begin engaging foreign investors in coordination with relevant agencies, advancing both projects into the construction phase and supporting economic growth.

Source : Thai Govt Keeps Rail and U Tapao Projects Under Original Terms

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MIAMI — Hut 8 Corp. shares surged more than 3% Thursday to trade around $63.72, extending a blistering multi-day rally that has pushed the stock up sharply in recent sessions as investors pile into the former Bitcoin miner’s aggressive shift toward artificial intelligence and high-performance computing infrastructure.

The NASDAQ-listed company (HUT) climbed as high as $67 intraday Thursday amid broader optimism in risk assets following a U.S.-Israel-Iran ceasefire that eased geopolitical tensions. The stock has now skyrocketed roughly 84% year-to-date in 2026, trading near its 52-week highs and reflecting Wall Street’s growing conviction that Hut 8 is evolving from a volatile crypto play into a critical player in the AI data center boom.

Hut 8, which operates as an energy infrastructure platform integrating power, digital assets and large-scale compute, posted mixed fiscal 2025 results in late February but highlighted a landmark 15-year, 245-megawatt IT lease at its River Bend campus in Louisiana with cloud provider Fluidstack. The deal carries an estimated $7 billion in base-term contract value and is backed by commitments from major tech players, including Google parent Alphabet.

The transaction marks Hut 8’s first major commercialization of AI infrastructure at scale and underscores its “power-first” strategy. Rather than relying solely on Bitcoin mining revenue, the company is leveraging its access to low-cost power, permitted sites and modular facilities to host energy-intensive AI and HPC workloads.

Fiscal fourth-quarter revenue for the period ended Dec. 31, 2025, jumped 179% year-over-year to $88.5 million, driven by a 326% surge in compute revenue to $81.9 million. Full-year 2025 revenue climbed 45% to $235.1 million. However, the company swung to a massive net loss of $301.8 million in the quarter — largely due to $401.9 million in unrealized losses on digital assets amid Bitcoin price volatility — compared with a year-earlier profit. Adjusted figures also reflected the impact of those non-cash swings.

Despite the headline loss, management emphasized operational progress and a pivot toward more stable, contracted cash flows from AI leases. Compute revenue now dominates the mix, and the company highlighted gross margin expansion in that segment.

“We are executing on our strategy to become a leading energy infrastructure platform powering next-generation use cases,” Hut 8 executives said in the earnings release. The firm is prioritizing capital efficiency, expanding its power portfolio and converting a robust pipeline of AI opportunities into revenue.

Hut 8’s River Bend project has drawn particular attention. The campus is being positioned to support hyperscale AI training and inference clusters. Analysts have modeled potential annual revenue from the site reaching billions in coming years if additional phases materialize. Some projections suggest the broader AI pivot could generate over $2 billion in annual revenue by 2029, supported by long-term leases.

The company is also pursuing modular infrastructure designs that allow dynamic switching between AI/HPC workloads and Bitcoin mining depending on profitability. This flexibility provides a hedge against crypto volatility while capitalizing on surging demand for GPU clusters from companies racing to build out large language models and other AI systems.

Recent market momentum has been fueled by positive analyst commentary and broader sector tailwinds. Bitcoin mining stocks with credible AI exposure have outperformed pure-play miners in 2026, as hyperscalers pour hundreds of billions into data center expansion. Hut 8’s access to gigawatt-scale power potential positions it uniquely in a market constrained by electricity shortages and grid delays.

Analysts maintain a generally bullish stance. Consensus ratings lean toward Strong Buy, with average price targets around $62 to $72, though some firms have issued more aggressive calls citing the $7 billion Fluidstack deal and potential Google/Anthropic exposure. One research firm previously hiked its target to $136, citing massive upside from River Bend leasing revenues.

Hut 8 is not without risks. Its financials remain sensitive to Bitcoin price swings, and the heavy unrealized losses in Q4 highlighted ongoing balance sheet volatility. The company has yet to achieve consistent GAAP profitability, and execution on large-scale data center builds faces industry-wide headwinds, including shortages of electrical equipment like transformers and potential delays in U.S. grid infrastructure.

Broader challenges in the AI buildout — with nearly half of planned 2026 data centers facing delays or cancellations due to power and component constraints — could temper near-term growth. Still, Hut 8’s existing permitted sites and power agreements give it a head start over traditional data center developers.

The stock’s recent surge accelerated on April 8, when shares jumped more than 16% on high volume amid easing macro concerns and renewed AI enthusiasm. By mid-afternoon Thursday, April 9, shares were changing hands around $63.72, up about 3.7% on the session with elevated trading activity.

Hut 8 executives have signaled 2026 will focus on project execution, converting the AI pipeline into contracted revenue and maintaining capital discipline. The company continues to advance multi-gigawatt growth plans while optimizing its Bitcoin mining fleet for efficiency.

Founded as a Bitcoin mining operation, Hut 8 has strategically repositioned itself around energy infrastructure. It controls significant power capacity across sites in North America and has invested in high-density computing capabilities suitable for both cryptocurrency and AI applications.

Investors appear to be rewarding the pivot. The stock has broken out of its earlier trading range, trading well above its 200-day moving average and approaching all-time highs in some sessions. Market capitalization now exceeds $6 billion, reflecting renewed growth expectations.

Still, volatility remains a hallmark. As a hybrid Bitcoin-AI play, Hut 8 can swing sharply on crypto prices, interest rate moves or updates from Big Tech on capital spending. Upcoming quarterly results, expected around mid-May, will be closely watched for progress on AI lease deployments and operational metrics.

Hut 8 employs about 248 people and maintains operations across mining, power sales and digital infrastructure. Its facilities are designed for rapid deployment of compute resources, giving it an edge in the race to bring online the massive GPU clusters demanded by the AI revolution.

As artificial intelligence spending by companies like Microsoft, Amazon, Google and Meta continues to accelerate — with combined 2026 capex forecasts topping $650 billion — players like Hut 8 that control ready power and sites are drawing fresh scrutiny from growth investors.

Whether the rally sustains will hinge on successful delivery at River Bend, further contract wins and the ability to translate AI ambitions into tangible, recurring revenue streams less dependent on Bitcoin.

For now, sentiment favors the bulls. With its $7 billion anchor tenant deal and modular flexibility, Hut 8 is emerging as one of the more compelling stories at the intersection of energy, crypto and artificial intelligence.