Hut 8 has announced the creation of four new Bitcoin mining sites in Texas, Louisiana, and Illinois. This move is aimed at increasing production capacity and capturing market share in a growing segment.
Expansion Plans and New Capacity
Hut 8 plans to add 1.5GW of new capacity, significantly enhancing the scale of its platform. According to the recent announcement, the new sites will be located in regions with rising demand for electricity. Currently, 90% of the existing 1GW capacity is already utilized.
Economic Impact on the Mining Market
According to OneSafe, US miners control 75.4% of the global hash rate. In 2024, crypto mining created over 31,000 jobs in the US. Other operators in the country include CleanSpark and Core Scientific.
Bitcoin Mining Regulation in the US
Hut 8 is expanding into regions with varying rules on Bitcoin mining. In Texas, mining facilities with a capacity of over 75 MW must register with the Public Utility Commission. Louisiana has passed a law supporting Bitcoin miners, while Illinois has not implemented specific regulations yet.
Hut 8's expansion highlights the increasing interest and investment in the Bitcoin mining market in the US, alongside the necessity of navigating diverse regulatory environments.
