06:03 PM EST, 03/06/2025 (MT Newswires) -- Hut 8 ( HUT ) said Thursday it secured 592 acres in Louisiana for its River Bend campus, one of three sites comprising 430 megawatts of artificial intelligence data center development opportunities.

In a corporate update, the company said the site will likely support a 300-megawatt utility-scale power plant with 200 megawatts of dedicated IT load.

Further, the company said it remains on track to bring Vega power project online in Q2. Its ASIC fleet upgrade is also underway.

"We made significant progress in February across every layer of our platform, from expanding our footprint to developing digital infrastructure and upgrading our ASIC fleet," said Asher Genoot, CEO of Hut 8 ( HUT ).