Bitcoin Mining Firm Hut 8 Expands Capacity in Texas

Canadian Bitcoin mining company Hut 8 has recently announced a power purchase agreement for a site in West Texas that provides 205 megawatts of available power.

This is the first step in Hut 8’s plan to develop 1,100 megawatts of exclusive energy capacity.

According to Hut 8 CEO Asher Genoot, this is the first data center load to be approved in this market, and the company is actively seeking opportunities to work with energy partners to create mutually beneficial deals.

The site, which is in close proximity to a wind farm and connected to the ERCOT grid, will provide Hut 8 with access to low-cost wholesale power in North America.

The company plans to use this site for high-density computing applications like Bitcoin and AI, with construction efforts already underway.