Company targeting four sites across Texas, Illinois, and Louisiana
HPC and cryptomine data center developer Hut 8 has announced plans for new projects across the US.
The company this week announced plans to develop four new sites across the United States, totaling 1.53GW of capacity under development.
The expansion sites range in scale from 50MW to 1GW of utility capacity across Louisiana, Texas, and Illinois.
Upon commercialization of the sites, Hut 8 said it expects its platform to exceed 2.5GW of capacity under management across 19 sites.
“This expansion marks a defining step in Hut 8’s evolution into one of the largest energy and digital infrastructure platforms in the world,” said Asher Genoot, CEO of Hut 8. “By advancing more than 1.5GW of capacity 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 added: “In addition to driving scale, this expansion is designed to broaden our geographic footprint as we seek to capture opportunities in markets where we see energy demand rising most rapidly. Importantly, it represents just the first phase of execution against a multi-gigawatt energy origination pipeline that underpins our long-term growth trajectory.”
In total, Hut 8 claims to have 10.6GW of capacity in various stages of its pipeline. It has around 1GW in operation, 1.5GW in development, 1.25GW under exclusivity, and a further 6.8GW under evaluation.
In Louisiana, the River Bend Project will total 300MW. In Illinois, ‘Project 4’ will total 50MW. In Texas, projects 2 and 3 will total 1GW and 180MW, respectively.
Timelines for development on each weren’t shared. Hut 8 recently told DCD that its latest data center design enables flexibility to host either crypto or HPC hardware with minimal changes.
Hut 8 acquired 592 acres in Baton Rouge, Louisiana, in March.
Nasdaq-listed Hut 8 currently has more than 19 data center sites either in operation or in development, including ten Bitcoin mining projects, five high-performance computing data centers, and four power-generation assets. The company acquired five colo data centers in Canada from TeraGo in 2022, and merged with US Bitcoin in 2023. Hut 8 also offers GPU-as-a-Service through its Highrise brand.
Hut 8 acquired a majority stake in American Data Centers in April, joining forces with its management team, which includes the son of President Donald Trump, Eric Trump. Upon completion of the merger, the combined company will operate under the American Bitcoin brand. The cryptomining unit is set to go public via a merger with cryptocurrency mining firm Gryphon Digital. Hut 8 is set to continue hosting American Bitcoin’s hardware in its data centers.
Hut 8 said it has assets and available financing arrangements supporting up to $2.4 billion in liquidity, including cash, Bitcoin, credit, and its at-the-market (ATM) equity program. This includes more than 10,000 Bitcoin, a $200 million revolving credit facility, and a $1bn ATM program.
This month’s Q2 2025 quarterly earnings saw Hut 8 post revenue of $41.3m, net income of $137.5m, and Adjusted EBITDA of $221.2m.
Source: DCD
