Hut 8 to expand in West Texas

Cryptomining company Hut 8 has revealed that it will beexpanding its operations in Texas and has signed a power purchase agreement to procure 205MW of energy for a new data center to be built on an undisclosed greenfield site in West Texas.

Asher Genoot, CEO of Hut 8, said: “This transaction exemplifies Hut 8’s differentiated approach to securing new energy capacity through mutually accretive partnerships. We continue to identify opportunities to work hand-in-hand with energy partners to develop bespoke structures that generate outsized value for every party involved. We believe this partnership-driven approach sets us apart as we continue to build development partnerships across the energy value chain.”

The company said: “The site is well-positioned to support a variety of high-density compute applications, including Bitcoin mining and AI. Hut 8 is finalizing a commercialization plan for the site with the aim of maximizing its value.”