Hut 8, a Bitcoin miner, has finalized a deal to boost its mining capabilities in Texas. The company has secured a purchase agreement for 205 megawatts of power and land in West Texas, aiming to increase its energy infrastructure to 1.3 gigawatts. Situated near a wind farm and linked to the Electric Reliability Council of Texas (ERCOT), Hut 8 can now access cost-effective wholesale power pricing. CEO Asher Genoot highlighted the significance of this approval in a complex regulatory environment. Following a merger in 2023, Hut 8 has been expanding its presence in the US, with a new mining facility in Culberson County offering reduced costs. In response to the halving event, Bitcoin miners are diversifying revenue streams through acquisitions and partnerships. Public mining companies raised $2 billion in equity financing, adapting to the changing landscape of the industry. Read more AI-generated news on: https://app.chaingpt.org/news