Mining

Bitcoin Miner Hut 8 Secures 205 MW Power Agreement in Texas

Bitcoin miner Hut 8 Corp. has entered into a definitive power purchase agreement for a site in West Texas. The agreement provides Hut 8 with 205 megawatts of power capacity, marking the first conversion from its 1,100 megawatts development pipeline.

The new site, connected to the Electric Reliability Council of Texas (ERCOT) grid and adjacent to a wind farm, offers Hut 8 access to low wholesale power prices. The site, equipped with an operational substation, will support bitcoin (BTC) mining and artificial intelligence (AI) applications.

This expansion will bring Hut 8’s energy infrastructure to approximately 1.3 gigawatts. Engineering, procurement, and construction efforts are already underway for a new data center.

Hut 8 CEO Asher Genoot emphasized the strategic importance of this transaction, highlighting Hut 8’s ability to negotiate complex regulatory frameworks and create value through partnerships.

“This is the first time a large data center load has been approved under the complex regulatory framework in this particular market,” Genoot remarked on Tuesday. The agreement is expected to enhance Hut 8’s energy platform across various verticals, including self-mining and managed services.

What do you think about Hut 8’s expansion? Share your thoughts and opinions about this subject in the comments section below.

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