Hut 8 (HUT), a bitcoin mining and digital infrastructure company, surged Tuesday after unveiling plans to double its power capacity with four new US sites. The projects, supported by a $2.4 billion liquidity framework, will strengthen the company’s role in bitcoin mining and digital infrastructure.

Shares rose 10.49% to close at $25.91, the highest level in seven months, even as bitcoin traded below $110,000.

Four New Projects Across the US Add 1.5 GW

Hut 8 (HUT) confirmed it will build four new facilities totaling 1,530 megawatts (MW) of power capacity across Louisiana, Texas, and Illinois. The projects range in scale from 50 MW to a massive 1,000 MW and are tied into regional power networks for faster deployment.

Two sites in Texas under the ERCOT grid will contribute 1,180 MW. Louisiana’s site, connected to MISO, will add 300 MW, while Illinois will see a 50 MW project linked to PJM. The company reclassified these assets from “exclusivity” to “development,” meaning land and power agreements have been secured, and active design work is underway.

Once commercialized, Hut 8 expects to manage over 2.5 gigawatts across 19 locations. This marks the first stage of a multi-gigawatt North American growth strategy. As of August 25, 2025, the firm reported a broader development pipeline of 10,620 MW. The pipeline spans multiple stages, with more than 14% already in active development.

Executives said this structured approach helps move projects systematically through design, buildout, and commercialization while retaining financial discipline. In a press release, Asher Genoot, Hut 8’s chief executive officer, emphasized the strategic importance of the projects. “Hut 8 is moving with purpose to secure prime sites that will anchor our next decade of growth,” he said.

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Author: Sangho Hwang