Bitcoin News Today: Hut 8 Powers 1.5GW Expansion to Fuel AI and Crypto Future

Bitcoin Miner Hut 8 announced plans to expand its infrastructure with the development of four new sites across the United States, adding 1.5 gigawatts (GW) of capacity. The projects, spread across Texas, Louisiana, and Illinois, aim to diversify the company’s geographic footprint and respond to rising demand for energy-intensive applications such as high-performance computing and artificial intelligence [1]. CEO Asher Genoot emphasized that the expansion positions the company to more than double the scale of its platform, reinforcing its broader strategy to grow beyond Bitcoin mining into digital infrastructure [1].

The expansion, which spans facilities ranging from 50 to 1,000 megawatts (MW), will bring Hut 8’s total pipeline to over 10 gigawatts of potential capacity. Once operational, the new developments will lift Hut 8’s managed capacity to more than 2.5 gigawatts across 19 sites [2]. The company’s current capacity of 1 gigawatt is already approximately 90% utilized, highlighting the urgency to scale up infrastructure in line with demand [1].

To fund the expansion, Hut 8 has secured $330 million in non-dilutive capital from Two Prime and Coinbase. The firm also launched a $1 billion at-the-market equity program and is in discussions with banks for project-level financing. As of August 25, the company held over 10,000 Bitcoin, valued at roughly $1.2 billion, which it utilizes as a reserve asset base to secure loans or generate yield [2]. Combined with cash and credit, Hut 8 reported liquidity resources of up to $2.4 billion.

The new sites come at a time when U.S. Bitcoin miners are gaining a stronger grip on the global hash rate. According to fintech platform OneSafe, U.S. miners control 75.4% of the global hash rate, with companies like CleanSpark, Core Scientific, and Gryphon Digital Mining also expanding their operations. The industry has created over 31,000 jobs in the U.S. in 2024 [1].

Hut 8’s expansion also reflects broader regulatory developments in the U.S. Texas requires virtual currency mining facilities above 75 MW to register with the Public Utility Commission, while Louisiana passed a supportive bill for miners in industrial areas in June 2024. Illinois, although lacking specific cryptocurrency mining regulations, has seen the emergence of mining operations in cities such as Bloomington-Normal and Effingham [1]. Hut 8’s strategy to expand into states with varying regulatory landscapes underscores the evolving nature of the Bitcoin mining industry in the United States.

Source:

[1] Bitcoin Miner Hut 8 Announces 1.5GW Expansion in the ... (https://cointelegraph.com/news/bitcoin-miner-hut-8-expansion-in-us-stock-rises)

[2] Hut 8 Secures $330M Credit from Two Prime, Coinbase to ... (https://theminermag.com/news/2025-08-26/hut-coinbase-two-prime-gigawatt)

[3] Hut 8 Announces Plans to Develop Four New Sites ... (https://www.hut8.com/news-insights/press-releases/hut-8-announces-plans-to-develop-four-new-sites)