Bitcoin miner Hut 8 has announced plans to develop four new sites across the United States, adding 1.53 gigawatts (GW) of utility capacity to its platform.
Key Takeaways:
Hut 8 is developing four new U.S. sites, adding 1.53 GW of capacity. The expansion will more than double its managed capacity to 2.5 GW across 19 sites. Texas hosts the largest project, a 1,000 MW site under ERCOT.The projects, spanning Louisiana, Texas, and Illinois, will advance from “Capacity Under Exclusivity” into a newly introduced category called “Capacity Under Development.”
Once commercialized, Hut 8 expects its platform to exceed 2.5 GW of capacity under management across 19 sites, more than doubling its current scale, according to a Tuesday press release.
Texas Leads Hut 8 Expansion with 1,000 MW Site
The four projects vary in size from 50 MW to 1,000 MW. The largest, located in Texas, falls under the Electric Reliability Council of Texas (ERCOT) with 1,000 MW of available utility capacity.
A second Texas site adds 180 MW, while a Louisiana site under Midcontinent Independent System Operator (MISO) contributes 300 MW.
The final 50 MW site is in Illinois within the PJM Interconnection. Collectively, the 1,530 MW represents the first phase of a broader multi-gigawatt pipeline.
Hut 8 said the sites were chosen for near-term power access and flexibility to support diverse customer requirements, including advanced data infrastructure and next-generation compute.
To reflect its progress, Hut 8 has added “Capacity Under Development” to its project framework.
This category applies to late-stage projects where land and power agreements are in place and design and buildout are underway.
As of August 25, 2025, Hut 8 reported 10,620 MW across its pipeline: 6,815 MW under diligence, 1,255 MW under exclusivity, 1,530 MW under development, and 1,020 MW already commercialized.
CEO Asher Genoot said the expansion is designed to strengthen the firm’s geographic footprint in regions of rising energy demand.
“By advancing more than 1.5 gigawatts from exclusivity into development, we position ourselves to more than double the scale of our platform and address accelerating demand across energy-intensive use cases,” Genoot said.
Hut 8 Outlines $2.4B Funding Strategy for Expansion
Hut 8 plans to fund the projects with a mix of reserves, credit facilities, and equity flexibility.
As of August 25, the company held $2.4 billion in liquidity, including $1.2 billion in Bitcoin reserves (10,278 BTC). It also has a new $200 million revolving credit facility with Two Prime and an expanded $130 million facility with Coinbase.
In addition, Hut 8 launched a $1 billion at-the-market (ATM) equity program, replacing a prior program that was only partially used.
As reported, over half of the world’s Bitcoin mining operations still trace their origins to China, with 55% to 65% of mining linked to Chinese capital, hardware, or expertise, according to Uminers CEO Batyr Hydyrov.
Despite China’s 2021 mining ban, key Chinese players have maintained influence by relocating operations overseas.
Major Chinese manufacturers Bitmain, Canaan, and MicroBT, responsible for 99% of Bitcoin mining hardware, have shifted production to the U.S. to avoid tariffs, helping boost America’s share of Bitcoin’s total hashrate from 4% in 2019 to 38% today.
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