Hut 8 ramps up with 205 MW deal in Texas, boosting capacity to 1.3 GW
Summary
Hut 8, a North American Bitcoin miner, has expanded its energy infrastructure to 1.3 gigawatts with a new power purchase agreement for a 205-megawatt site in West Texas. This is the first step in developing 1,100 megawatts of exclusive energy capacity. The site, located next to a wind farm, provides access to low wholesale power prices and is ideal for high-density computing applications. Hut 8's stock prices rose by 2.06% after the announcement. CEO Asher Genoot highlighted the firm's expertise in navigating regulatory challenges and the differentiated approach to securing new energy capacity. Despite a decline in Bitcoin miners' earnings, Hut 8 reported growth in Bitcoin production last month, producing 107 BTC in June.
