Miner Hut 8 to Launch Four New Sites in the US
Mining company Hut 8 has announced that it is launching four new sites in the US states of Texas, Illinois and Louisiana.
With this move, we will be able to double the scale of our platform and meet the growing demand for energy-intensive use cases,” said CEO Asher Genuta.
The existing 8 gigawatt Hut 1 platform is already reported to be 90% operational. The new capacity is expected to support “energy-intensive use cases beyond traditional Bitcoin mining,” such as high-performance computing, artificial intelligence, and next-generation industrial applications.
Each of the company’s four new sites will be connected to regional power grids. To prevent future strain on infrastructure, Hut 8 plans to secure lucrative power supply contracts in advance and take advantage of “economies of scale.”
The miner has already leased the land, signed contracts for connection to the power grid, and is now engaged in the physical construction of the facilities. Once these facilities are operational, the total managed capacity of Hut 8 will exceed 2,5 gigawatts.
The company will finance the launch of new enterprises using cryptocurrency reserves, loans, and investor funds. Currently, the miner owns more than 10,000 BTC worth almost $1,2 billion.
