Hut 8 Corp (NASDAQ:HUT) shares are surging Tuesday afternoon following the announcement of an expansion plan that will more than double its operational capacity. The energy infrastructure and Bitcoin mining company revealed plans to develop four new sites in Texas, adding over 1.5 gigawatts of power to its portfolio.
What To Know: This expansion comes as the company reports that approximately 90% of its existing 1,330 megawatts (MW) were already contracted as of June 30. The addition of 1,530 MW is a response to growing demand from prospective customers across energy-intensive sectors.
