Chet 8 (HUT)Public bitcoin The mining and energy infrastructure company jumped on Tuesday after revealing plans to double the company’s electrical capacity.
Plans include the development of four new sites across the United States with more than 1.5 gigawatts (GW)Expanding total energy capacity to more than $ 2.5 GW on 19 locations, according to a press release.
The action has increased by more than 10%, reaching a seven -month summit of $ 26 per share, even if Bitcoin prices remain blocked in the slump than $ 110,000.
Companies in the data center benefit from a renewal of investors’ interests, because the demand for calculation calculations amounts to fuel the innovation of artificial intelligence. Recently, the Google technology giant has taken a minority stake in Bitcoin Miner Terawulf as part of an AI infrastructure agreement of $ 3.2 billion.
“This expansion marks a decisive step in the evolution of Hut 8 to one of the largest energy and digital infrastructure platforms in the world,” said Hut 8 CEO, Asher Genoot, in the press release.
The company said that it had reclassified “exclusivity” projects to “development”, which means that it has obtained land and electric agreements and works on design and marketing.
To finance projects, the company plans to draw up to $ 2.4 billion in liquidity from various sources. This includes the loan against its reserve of 10,000 BTC worth around 1.1 billion dollars, a 200 million dollars renewable credit line, an expanded installation of $ 130 million in Coinbase and an equity supply of $ 1 billion recently launched.
Investment Bank Roth Capital considered expansion plans as a “notable step”, with potential to “materially reassess the stock” as the sites get online and contract for AI and high performance IT.
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