18.5 EH/s and 762 MW under management in mining
Energized Building 1 at Cedarvale
Hut 8 Corp. (“Hut 8” or the “Company”), a leading, vertically integrated operator of large-scale energy infrastructure and one of North America’s largest Bitcoin miners, released its operations update for August 2024.
“During August, we maintained our focus on low-cost operations and unit economics,” said Asher Genoot, CEO of Hut 8. “Maximizing returns from our current fleet remains a priority while we continue to plan a thoughtfully structured fleet upgrade to next-generation ASICs. Reactor, our curtailment software, enabled us to mine when profitable and keep energy costs low during what is typically the hottest month of the year.”
“We also advanced commercialization efforts for our 205-megawatt site in the Texas Panhandle, as well as large-scale opportunities in our development pipeline that are suitable for Bitcoin mining and AI. We look forward to sharing further updates on each of these growth vectors as they materialize.”
Highlights:
Advanced commercialization discussions for the Texas Panhandle site in parallel with ongoing engineering and procurement efforts, targeting energization in H1 2025
Energized Building 1 at Cedarvale during August and remain on track to bring the remaining three buildings online by December
Upcoming Conferences & Events:
September 9-11, 2024: H.C. Wainwright 26th Annual Global Investment Conference
September 25-26, 2024: TMT M&A Forum USA 2024
September 25-26, 2024: infra/STRUCTURE 2024
September 26, 2024: ArcStone-Kingswood Growth Summit 2024
