The Block Crypto News11 minutes ago

Published on July 09, 2024 10:30 GMT+00:00edited on July 09, 2024 10:34 GMT+00:00

Bitcoin miner Hut 8 has entered into a power purchase agreement for a site in West Texas with 205 megawatts of immediately available power capacity and land.

The deal represents the first transaction in Hut 8’s previously announced development pipeline of 1,100 megawatts of exclusive energy capacity.

“This is the first time a large data center load has been approved under the complex regulatory framework in this particular market,” Hut 8 CEO Asher Genoot said. “We continue to identify opportunities to work hand-in-hand with energy partners to develop bespoke structures that generate outsized value for every party involved.”

The site operates adjacent to a wind farm and is connected to the ERCOT grid, providing Hut 8 with access to some of the lowest-cost wholesale power in North …