Hut 8 Executes Definitive Agreements for Site in West Texas with 205 MW of Immediately Available Power Capacity

Core Viewpoint - Hut 8 Corp. has entered into a power purchase agreement for a site in West Texas, gaining exclusive access to 205 megawatts of power capacity, marking the first transaction from its previously announced development pipeline of 1,100 megawatts [1]. Group 1: Company Overview - Hut 8 Corp. operates as a vertically integrated energy infrastructure operator and Bitcoin miner, with a portfolio of nineteen sites across North America, including ten Bitcoin mining and hosting sites, five high-performance computing data centers, and four power generation assets [2]. Group 2: Transaction Details - The new site is adjacent to a wind farm and connected to the ERCOT grid, providing access to some of the lowest locational wholesale power pricing in North America [8]. - Upon closing, the transaction is expected to expand Hut 8's energy infrastructure platform to approximately 1.3 gigawatts of capacity across various operations, including self-mining and managed services [9]. Group 3: Strategic Approach - The CEO of Hut 8 emphasized the company's differentiated approach to securing new energy capacity through partnerships, which addresses the commercial, legal, and regulatory challenges of stakeholders involved in the project [6]. - The company is finalizing a commercialization plan for the new site to maximize its value and support high-density compute applications, including Bitcoin mining and AI [8].