Bitcoin News Today: Hut 8 Mines New Path to AI and Energy Dominance

Bitcoin miner Hut 8 Corp. has announced a 1.5 gigawatt (GW) expansion initiative across four new mining sites in Texas, Louisiana, and Illinois, aiming to significantly increase its global capacity and reinforce its position in the U.S. market. The expansion, which targets regions with growing energy demand, will allow the company to more than double its current 1 gigawatt (GW) capacity, with 90% of existing capacity already allocated. Following the announcement, Hut 8’s shares surged by approximately 10.5% on the Nasdaq, reflecting positive market sentiment toward the company’s growth strategy [3].

The CEO of Hut 8, Asher Genoot, highlighted that the expansion is designed to support energy-intensive use cases beyond Bitcoin mining, including high-performance computing and industrial manufacturing. The company has also identified opportunities in the artificial intelligence sector, where energy demand is rapidly increasing. The new facilities are expected to meet these diverse needs while enhancing Hut 8’s geographic footprint and operational flexibility [3].

The U.S. Bitcoin mining industry continues to consolidate its dominance in the global hash rate. According to fintech platform OneSafe, U.S. miners now control approximately 75.4% of the global hash rate. Hut 8, as a major player, operates in conjunction with other notable firms such as CleanSpark, Core Scientific, and Gryphon Digital Mining. The expansion into Texas, Louisiana, and Illinois aligns with state-level efforts to attract energy-intensive industries, including recent regulatory developments in Louisiana that support Bitcoin mining operations [3].

To fund its ambitious expansion, Hut 8 has also launched a renewed $1 billion at-the-market (ATM) equity program, replacing an earlier $500 million offering. The new program allows the company to raise capital through stock sales, with proceeds expected to support infrastructure development and high-performance computing initiatives. The ATM offering is facilitated by a syndicate of U.S. and Canadian agents, who will receive up to 3% of the gross proceeds from each sale [2].

The company’s expansion strategy is accompanied by significant capital spending, including a $2.5 billion investment in an artificial intelligence data center in West Feliciana Parish, Louisiana. The project, located near Entergy’s River Bend substation, is expected to generate thousands of construction jobs and over 50 long-term positions. The first phase of the project is scheduled for completion by the end of 2025, with a second building to follow before 2027 [2].

Meanwhile, the broader Bitcoin mining industry has raised concerns about the concentration of hash rate power, particularly with Foundry USA and AntPool reportedly controlling over 51% of the network hashrate. While this level of control theoretically allows for a 51% attack, industry analysts argue that such an event is unlikely, as it would be detrimental to the business interests of the involved parties. Unlike past episodes, such as the 2014 GHash.io scare, the current situation reflects industrial centralization rather than protocol-level centralization. As mining difficulty increases, smaller operators face greater challenges, further consolidating power among the largest mining pools [4].

Source: [1] title1 (https://www.datacenterdynamics.com/en/news/compass-mining-and-onmine-partner-to-energize-10mw-site-in-texas/) [2] title2 (https://theminermag.com/news/2025-08-23/bitcoin-hut8-atm) [3] title3 (https://cointelegraph.com/news/bitcoin-miner-hut-8-expansion-in-us-stock-rises) [4] title4 (https://www.mitrade.com/insights/news/live-news/article-3-1059475-20250822)