Hut 8 Expands With 1.5 GW of New Bitcoin Mining Sites Across the US
- Hut 8 adds 1.5 GW capacity with new mining sites in Texas, Louisiana, and Illinois.
- Shares jumped 10% after the announcement, with investors backing the expansion.
- Facilities will also supply energy for AI and high-performance computing, not just Bitcoin.
Bitcoin mining heavyweight Hut 8 is taking a big swing at the global hash rate race, announcing four brand-new mining facilities across Texas, Louisiana, and Illinois. The expansion, worth a staggering 1.5 gigawatts of additional capacity, comes as American miners continue tightening their grip on worldwide Bitcoin mining power.
Massive Expansion in High-Demand States
The Tuesday announcement sent Hut 8’s Nasdaq-listed shares soaring more than 10%, as investors cheered the move. The company explained the strategy was designed to spread its geographic footprint while setting up shop in regions where energy demand is climbing the fastest.
CEO Asher Genoot made it clear the plan is more than just scaling Bitcoin mining: “By advancing more than 1.5 gigawatts of capacity, we position ourselves to more than double the scale of our platform and address accelerating demand across energy-intensive use cases.”
For context, Hut 8 already runs around 1 gigawatt of capacity, with 90% of it already spoken for. Adding another 1.5 GW means the company is effectively doubling down at a time when US miners already control over 75% of global hash power.
Beyond Bitcoin Mining – Energy for AI and More
The company says these new facilities won’t just power Bitcoin. They’ll also provide infrastructure for high-performance computing, artificial intelligence, and even advanced manufacturing industries. This hints at a shift in how miners are framing their business: less about just hashing Bitcoin and more about supplying raw power to the digital economy.
Interestingly, Hut 8 is also tied to American Bitcoin, a mining and treasury company linked to the Trump family, giving it some political visibility as well. Most of Hut 8’s current facilities are already in Texas, a hotspot for crypto miners.
Navigating State-by-State Rules
The move also places Hut 8 at the center of evolving state-level regulations. In Texas, any “virtual currency mining facility” using over 75 megawatts must register with the state utility commission. Louisiana, on the other hand, has leaned pro-Bitcoin, passing a law in 2024 that not only supported mining operations but also banned central bank digital currencies and reinforced the right to self-custody.
Illinois hasn’t laid out a detailed mining law yet, though cities like Bloomington-Normal and Effingham have become quiet hubs for miners. For Hut 8, planting facilities across such varied regulatory landscapes could be both a challenge and an opportunity.
The post Hut 8 Expands With 1.5 GW of New Bitcoin Mining Sites Across the US first appeared on BlockNews.
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Hut 8 Expands With 1.5 GW of New Bitcoin Mining Sites Across the US
- Hut 8 adds 1.5 GW capacity with new mining sites in Texas, Louisiana, and Illinois.
- Shares jumped 10% after the announcement, with investors backing the expansion.
- Facilities will also supply energy for AI and high-performance computing, not just Bitcoin.
Bitcoin mining heavyweight Hut 8 is taking a big swing at the global hash rate race, announcing four brand-new mining facilities across Texas, Louisiana, and Illinois. The expansion, worth a staggering 1.5 gigawatts of additional capacity, comes as American miners continue tightening their grip on worldwide Bitcoin mining power.
Massive Expansion in High-Demand States
The Tuesday announcement sent Hut 8’s Nasdaq-listed shares soaring more than 10%, as investors cheered the move. The company explained the strategy was designed to spread its geographic footprint while setting up shop in regions where energy demand is climbing the fastest.
CEO Asher Genoot made it clear the plan is more than just scaling Bitcoin mining: “By advancing more than 1.5 gigawatts of capacity, we position ourselves to more than double the scale of our platform and address accelerating demand across energy-intensive use cases.”
For context, Hut 8 already runs around 1 gigawatt of capacity, with 90% of it already spoken for. Adding another 1.5 GW means the company is effectively doubling down at a time when US miners already control over 75% of global hash power.
Beyond Bitcoin Mining – Energy for AI and More
The company says these new facilities won’t just power Bitcoin. They’ll also provide infrastructure for high-performance computing, artificial intelligence, and even advanced manufacturing industries. This hints at a shift in how miners are framing their business: less about just hashing Bitcoin and more about supplying raw power to the digital economy.
Interestingly, Hut 8 is also tied to American Bitcoin, a mining and treasury company linked to the Trump family, giving it some political visibility as well. Most of Hut 8’s current facilities are already in Texas, a hotspot for crypto miners.
Navigating State-by-State Rules
The move also places Hut 8 at the center of evolving state-level regulations. In Texas, any “virtual currency mining facility” using over 75 megawatts must register with the state utility commission. Louisiana, on the other hand, has leaned pro-Bitcoin, passing a law in 2024 that not only supported mining operations but also banned central bank digital currencies and reinforced the right to self-custody.
Illinois hasn’t laid out a detailed mining law yet, though cities like Bloomington-Normal and Effingham have become quiet hubs for miners. For Hut 8, planting facilities across such varied regulatory landscapes could be both a challenge and an opportunity.
The post Hut 8 Expands With 1.5 GW of New Bitcoin Mining Sites Across the US first appeared on BlockNews.
Read More