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🧠HUT 8 EXPANDS ENERGY INFRASTRUCTURE

🧠HUT 8 EXPANDS ENERGY INFRASTRUCTURE

Day: 2024-07-09 | Time: 18:11:43 North American Bitcoin mining company Hut 8 has expanded its energy infrastructure to approximately 1.3 gigawatts after signing an energy purchase agreement for a 205-megawatt site in West Texas. This is the first step in the plan to develop 1,100 megawatts of exclusive energy capacity. Hut 8's stock price increased by 2.06% following the news. The site is connected to a network owned by the Electric Reliability Council of Texas (ERCOT) and offers some of the lowest wholesale energy prices in North America. Hut 8 emphasized the importance of this move in demonstrating its expertise in managing regulatory challenges. This development comes at a time of significant decline in Bitcoin miner earnings, but Hut 8 has reported growth in Bitcoin production in the last month.

Hut 8 Bitcoin miner in Texas