Hut 8, once known mainly as a Bitcoin mining giant, is reshaping its identity with a massive new war chest and a bold pivot into artificial intelligence infrastructure.
The company has doubled its equity raise capacity, giving it up to $1 billion in fresh funding firepower, according to its latest SEC filing.
The timing is no accident. Construction has already begun in Louisiana on a colossal $2.5 billion AI campus covering more than 600 acres.
The site will feature two data halls the size of football stadiums, designed to feed soaring demand for GPU-driven computing. The first facility is slated to go live by late 2025, with the second to follow two years later.
Hut 8’s pivot highlights the pressure facing miners: higher energy costs, tougher competition, and volatile Bitcoin prices have thinned margins. By expanding into AI, the company hopes to stabilize revenue and future-proof its business.
The billion-dollar program offers flexibility: some of the capital can still be deployed into mining equipment, but the bigger play is AI hosting and high-density compute services.
If the Louisiana build-out succeeds, Hut 8 could vault into the ranks of America’s leading AI infrastructure providers while still holding its crown as one of Bitcoin’s largest treasury firms.
In short, Hut 8 is no longer content to be just another miner. It wants to straddle two of the world’s fastest-growing industries — crypto and AI — with a scale few rivals can match.
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Source: https://coindoo.com/hut-8-goes-all-in-1b-raise-fuels-pivot-from-bitcoin-mining-to-ai-superpower/