Ladies and gentlemen, boys and girls, welcome to the grandest show of tech and energy! 🎉 Hut 8 is not just planning a little upgrade; they’re about to pull off a transformation so massive, it’ll make your hair stand on end! 🤯 The Canadian tech titan announced that it’s spinning off most of its bitcoin mining operation into a shiny new company called American Bitcoin (ABTC). And get this, it’s happening faster than you can say “blockchain”! 💻
Today, we announced plans to develop four new sites across the United States, advancing 1,530 MW in our pipeline from exclusivity into development. The sites are expected to diversify Hut 8’s geographic footprint and position the company to meet growing demand from prospective…
– Hut 8 (@Hut8Corp) August 26, 2025
But wait, there’s more! 🎉 Hut 8 is going all out with a 1.53 gigawatts (GW) expansion at four U.S. locations-Louisiana, Texas, and Illinois. That’s like adding the power of a small country to their arsenal! When these projects wrap up, Hut 8’s total capacity will skyrocket to 2.55 GW, making them a force to be reckoned with in the energy and tech world. 🌟
Benchmark analyst Mark Palmer, the king of market insights, called this a turning point and raised his price target on Hut 8 shares to $36 from $33. With the stock closing just below $26 yesterday, that’s a potential gain of almost 40%! 📈 It’s like hitting the jackpot without even leaving your desk! 💰
Palmer also pointed out that spinning off the mining business into ABTC allows Hut 8 to rebrand itself as an energy infrastructure company. This move not only reduces the risk from Bitcoin’s wild price swings but also opens the door to cheaper financing. It’s a win-win, folks! 🎉
With a whopping $2.4 billion in liquidity, including a treasure trove of bitcoin, credit facilities, and an equity program, Hut 8 is setting itself up as the go-to proxy for bitcoin and a major player in AI and high-performance computing infrastructure. It’s like they’re building a tech empire, one watt at a time! 🏰💡
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2025-08-27 22:45