Hut 8 Expands Bitcoin Mining Operations Across U.S., Doubling Capacity

Bitcoin mining company Hut 8 is set to significantly expand its operations, establishing four new sites in Texas, Louisiana, and Illinois. This expansion will add 1.5 gigawatts of capacity, further solidifying U.S. miners’ dominance in the global hash rate. By targeting regions with surging energy demand, Hut 8 aims to broaden its geographic footprint, the company hopes to meet the rising needs for energy-intensive applications like high-performance computing and Bitcoin mining. Following this announcement, Hut 8 shares on Nasdaq surged by 10.5%, as reported by Google Finance. Currently, the company’s existing capacity is already at 90% utilization.