Bitco Mining Company Hut 8 builds four new sites to extract Bitcoin in Texas, Louisiana and Ilinoy, adding 1.5 GB of capacity as American miners tighten their grip on the global retail rate.
According to Tuesday advertisementThe expansion aims to expand the geographical imprint of the company and the targeted markets as “IS) rises faster.”
HUT 8 shares on Nasdak rose up to 10.5 % on Tuesday after the announcement, according to Google Finance. The company said that its current capacity of 1 Gigawat has been eaten by 90 %.
“By promoting more than 1.5 GB of capacity … we put ourselves more than twice the size of our platform and address accelerated demand through intensive energy use cases,” said CEO of Hut 8 Ashir Jenot.
According to To Fintech Platform Onesafe, miners in the United States control 75.4 % of the global retail rate. In 2024, encryption mining created more than 31,000 jobs in the United States. Bitcoin miners include Cleanspark, Core Scientific and Gryphon Digital Mining, among others.
The company described the new facilities as suitable for “intensive energy use cases”, which may include high -performance computing, bitcoin mining and industrial applications such as manufacturing the next generation. Behind mining, it also provides energy for the artificial intelligence sector.
HUT 8 is the parent company of America Bitcoin, a bitcoin mining company linked to the Trump family. It has facilities spread throughout Canada and the United States. The majority of its American facilities are in Texas.
Related to: Bitco Miner Hut 8 grows 79 %, despite the quarterly loss of $ 134 million
Bitcoin mining regulations are in the midst of the change industry
HUT 8 expands to states with varying rules about Bitcoin mining, at a time when the industry itself is in a transitional stage.
In Texas, “virtual currency mining facilities” with the strength of more than 75 MW must Record With the Texas Public Utilities Committee. The batch comes to register at the time when the energy companies in Mount and Tech Companies are related to Lone Star State.
In June 2024, Louisiana Pass A bill that contains support for bitcoin miners in industrial areas, which seeks to enhance the local economy by attracting new business. The bill also came with a ban on the central bank’s digital currencies and the right to self -needs.
Illinois did not acknowledge a specific encrypted currency mining regulations, but bitcoin mining facilities have appeared in places like Bloomington-unnecessary.
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