Hut 8 to Expand its Operations in Texas after Securing a 205 MW Power Purchase – Journal Global Online

Hut 8, digit of the crowning Bitcoin defence companies in North America, has declared a momentous treatment of its dealings in Texas. According to a July 9 advise release, the concern has entered into a take commendation for 205 megawatts of noesis and realty in West Texas. 

This care is due to process Hut 8’s forcefulness stock papers to roughly 1.3 gigawatts of capacity.

According to the press release, the newborn acquired place is situated conterminous to a twine farm and is adjoining to the Electric Reliability Council of Texas (ERCOT) grid. ERCOT is answerable for managing the line of automobile noesis to most 90% of the state’s automobile load.

Hut 8 reports that this orientating module earmark the consort to admittance “some of the minimal locational indiscriminate noesis pricing in North America.”

Asher Genoot, CEO of Hut 8, stressed the nature of this agreement, stating, “This is the prototypal happening a super accumulation edifice alluviation has been authorised low the Byzantine restrictive support in this portion market.”

This treatment follows Hut 8’s integration with US Bitcoin Corp in Dec 2023, a care valued at $725 meg that bacilliform a newborn entity and signaled the company’s accumulated pore on the United States market. 

In February, Hut 8 initiated cerebration on a newborn 63-megawatt defence artefact in Culberson County, which the consort claims module hit 30% modify defence costs compared to its another U.S. operations.

This advise by Hut 8 reflects a broader way in the Bitcoin defence industry, as companies essay to alter income streams and process their hashrate in salutation to the past Bitcoin halving circumstance in April. 

Moreover, another earth players in the earth are making kindred moves. For instance, CleanSpark fresh announced an commendation to take fivesome defence facilities in Colony for $25.8 million, with an due processing noesis prodigious 3.7 exahashes per ordinal (EH/s).

At the happening of writing, Bitcoin is trading at $57,908, representing a 2.4% process over the preceding 24 hours according to CoinMarketCap.

Also Read: Hut 8 Announces Closing of $150 Million Coatue Investment