Hut 8 Secures West Texas Site with 205 MW Power Capacity

  • Sergey Maga
  • 9 July, 2024 22:33
Hut 8 Secures West Texas Site with 205 MW Power Capacity

Hut 8 Corp., a leading Bitcoin miner and energy infrastructure operator, has announced a significant expansion with a new site in West Texas. The company has entered into a power purchase agreement (PPA) and other definitive agreements for exclusive access to 205 megawatts of immediately available power capacity. This transaction marks the first conversion from Hut 8’s previously announced 1,100 megawatts of energy capacity development pipeline under exclusivity, according to Hut 8.

“This is the first time a large data center load has been approved under the complex regulatory framework in this particular market,” said Asher Genoot, CEO of Hut 8. The West Texas site, adjacent to a wind farm and connected to the ERCOT grid, offers some of the lowest locational wholesale power pricing in North America. The site’s existing operational substation supports various high-density compute applications, including Bitcoin mining and AI.

Hut 8 is finalizing a commercialization plan for the site to maximize its value. “This transaction exemplifies Hut 8’s differentiated approach to securing new energy capacity through mutually accretive partnerships,” said Genoot. The addition expands Hut 8’s energy infrastructure platform to approximately 1.3 gigawatts across verticals, including self-mining, hosting, managed services, high-performance computing, and power generation.

Hut 8’s portfolio includes 19 sites across North America, with operations in Alberta, New York, Texas, British Columbia, and Ontario. The company is known for its commitment to sustainable energy solutions and its innovative approach to energy infrastructure development.

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