Hut 8 Unveils Ambitious US Expansion Plans with 1.5 GW Capacity Boost

Hut 8, a major Bitcoin mining company, is expanding its operations in the US by developing four new facilities across Texas, Louisiana, and Illinois. The new sites will add 1.5 gigawatts of capacity to Hut 8's existing 1-gigawatt operation, which is currently 90% utilized.

The expansion targets areas with rapidly rising energy demand, positioning the company to double its platform scale according to CEO Asher Genoot.

Hut 8 shares surged 10.5% on Nasdaq following the announcement, as the company's growth plans align with the increasing dominance of US miners in the global Bitcoin hashrate. The US now controls 75.4% of global hashrate, according to OneSafe data.