Bitcoin mining company Hut 8 signs a 205 megawatt energy capacity agreement with Texas site

ChainCatcher news, Bitcoin miner Hut 8 has signed a power purchase agreement to have 205 megawatts of immediately available power capacity and land at a site in West Texas. This transaction is the first deal in Hut 8's previously announced 1,100 megawatt exclusive energy capacity plan.

Hut 8 CEO Asher Genoot stated, "We will continue to seek opportunities to collaborate with energy partners to develop customized structures that create value for all parties."

Hut 8 indicated that the site is well-positioned to support high-density computing applications, including Bitcoin and artificial intelligence, with data center engineering, procurement, and construction work underway. Once completed, this transaction is expected to increase Hut 8's total capacity of owned and managed services to approximately 1.3 gigawatts.