Hut 8 Corp. (NASDAQ: HUT) has advanced 1.53 GW into its development pipeline, according to a company press release.
Hut 8’s expansion spans River Bend, Louisiana (300 MW, MISO), “Project 2” in Texas (1,000 MW, ERCOT), “Project 3” in Texas (180 MW, ERCOT), and “Project 4” in Illinois (50 MW, PJM).
Once developed, the expansion would bump the company’s total power under management to 2.55 GW. Hut 8 also detailed four potential expansion projects ranging from 50 MW in Illinois to a 1,000 MW site in TX, and it has 1,255 MW under exclusivity and 6.8 GW under due diligence.
Hut 8 will fund its current expansion with yield from its $1.2 billion in bitcoin reserves, a $330 million revolving credit facility with Two Prime and Coinbase at an 8.4% weighted average cost, a new $1 billion ATM equity program, and anticipated project-level financing from banking partners.
With roughly 90% of its existing 1.02 GW already contracted as of June 30, 2025, Hut 8 CEO Asher Genoot said the expansion “positions us to more than double the scale of our platform and address accelerating demand across energy-intensive use cases.”
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At time of publication, HUT is up 2.7% from yesterday’s close.
