Hut 8 plans to build four new Bitcoin mining sites in Texas, Louisiana, and Illinois, adding 1.5 gigawatts of capacity. The company aims to broaden its reach in markets where energy demand is rising rapidly. US miners currently control 75.4% of the global hash rate, with over 31,000 jobs created in the mining industry in 2024.

The expansion caused Hut 8 shares to surge by 10.5% on Tuesday. The company’s current 1 gigawatt capacity is 90% utilized. CEO Asher Genoot stated that by advancing 1.5 gigawatts of capacity, Hut 8 aims to double its platform’s scale to meet the growing demand for energy-intensive use cases.

Hut 8’s new facilities are designed for energy-intensive applications like high-performance computing, Bitcoin mining, and industrial use. The company also supplies energy to the artificial intelligence sector. Hut 8 is the parent company of American Bitcoin, with facilities in Canada and the US, mostly in Texas.

As Hut 8 expands into Texas, Louisiana, and Illinois, each state has different regulations on Bitcoin mining. In Texas, mining facilities over 75 megawatts must register with the Public Utility Commission. Louisiana passed a bill supporting Bitcoin miners in industrial areas in 2024. Illinois has seen Bitcoin mining facilities emerge in various locations.

Read more at cointelegraph.com: Bitcoin Miner Hut 8 Announces 1.5GW Expansion in the US, Stock Rises 10%