Hut 8 Stock Jumps 10% on 1.5GW Expansion

Bitcoin miner Hut 8 announced plans to add 1.5 GW of capacity in the US, pushing its stock 10% higher. Investors see strong growth potential in AI and HPC demand.

Major expansion for Hut 8

Publicly listed bitcoin miner Hut 8 revealed plans to significantly expand its infrastructure by developing four new sites across the United States. According to the press release, these projects will add over 1.5 GW of new capacity.

With this expansion, Hut 8’s total power capacity will exceed 2.5 GW across 19 operational locations.

The announcement drove Hut 8’s stock more than 10% higher, hitting a seven-month peak near $26 per share, even as bitcoin prices remain stuck below $110,000.

Rising demand from AI fuels growth

Investor interest in data center infrastructure is surging as demand for computing power accelerates. Artificial intelligence remains the key driver of this boom.

Recently, Google took a minority stake in bitcoin miner TeraWulf as part of a $3.2 billion AI infrastructure deal, underscoring the strategic value of such projects.

Hut 8 CEO Asher Genoot called the expansion “a defining step in Hut 8’s transformation into one of the largest energy and digital infrastructure platforms globally.”

Financing strategy and analyst outlook

Hut 8 reclassified the projects from “exclusivity” to “development,” meaning land and power contracts have already been secured.

The firm aims to raise up to $2.4 billion in liquidity through:

• borrowing against its 10,000 BTC reserve worth $1.1 billion;
• a $200 million revolving credit line;
• an expanded $130 million Coinbase facility;
• a new $1 billion at-the-market equity program.

According to Roth Capital, the expansion marks a “notable step-up” with the potential to “materially re-rate Hut 8’s stock” as sites come online and begin serving AI and HPC clients.