07:42 AM EDT, 07/09/2024 (MT Newswires) -- Hut 8 ( HUT ) , an operator of large-scale energy infrastructure and one of North America's largest bitcoin miners, said on Tuesday that it has signed a power purchase agreement and other definitive agreements for a site in West Texas.

The site will provide exclusive access to 205 megawatts of immediately available power capacity and land. There is an existing, operational substation, and engineering, procurement, and construction efforts for a new data center are in progress.

Upon closing, the transaction is expected to expand Hut 8's ( HUT ) energy infrastructure platform to about 1.3 gigawatts of capacity owned and managed across self-mining, hosting, managed services, high-performance computing, and power generation.

The company, which jumped over 6% in Canada yesterday, rose 1.8% in premarket U.S. trading on Tuesday.