Hut 8 Announces 1.5 GW U.S. Expansion; Shares Rise About 10%
Hut 8, the Bitcoin mining company, said it will build four new sites across Texas, Louisiana and Illinois that together add roughly 1.5 gigawatts of power capacity. The move is intended to broaden the company’s geographic footprint and position it in markets where energy demand is growing fastest.
The announcement sent Hut 8’s Nasdaq-listed shares higher — rising roughly 10% intraday — as investors reacted to the planned scale-up. The company said its existing roughly 1 GW of capacity is around 90% allocated, and that the new projects would more than double the platform’s potential size.
Hut 8’s leadership described the buildout as aimed at “energy-intensive” uses. Beyond traditional Bitcoin mining, the new facilities are being pitched as suitable for high-performance computing, industrial applications such as advanced manufacturing, and for serving artificial intelligence workloads that require large, steady power supplies.
Hut 8 is also the parent of American Bitcoin, a mining and treasury business. The company currently operates sites in both Canada and the United States, with the majority of its U.S. operations located in Texas.
The expansion comes as U.S. miners continue to increase their share of global mining capacity and employment in the sector grows. Major U.S. miners include names such as CleanSpark, Core Scientific and Gryphon Digital Mining.
Regulatory environments vary by state. In Texas, large “virtual currency mining facilities” that exceed 75 megawatts must register with the state Public Utility Commission. Louisiana adopted legislation in mid-2024 that aimed to attract industrial miners to designated areas and included provisions related to central bank digital currencies and self-custody. Illinois has not enacted specific statewide mining rules, though operations have appeared in locations such as Bloomington–Normal and Effingham.
Hut 8’s announcement highlights how Bitcoin miners are increasingly locating where large, reliable power is available and where they can serve a broader set of compute-heavy customers, even as state-level rules and market dynamics continue to evolve.
