07:23 AM EDT, 08/26/2025 (MT Newswires) -- Hut 8 ( HUT ) on Tuesday said it plans to develop four new sites across the U.S., bringing its total to 19 sites. The company will be able to produce more than 2.5 gigawatts of capacity under management.

The expansion sites range from 50 megawatts (MW) to 1,000 MW of utility capacity. In connection with the expansion, Hut 8 ( HUT ) is reclassifying 1,530 megawatts (MW) of capacity related to these sites to capacity under development. This designation applies to late-stage projects where Hut 8 ( HUT ) is investing in site development and commercialization and engaging with prospective customers. Projects in this category will transition into capacity under management once commercialized, the company said.

"This expansion marks a defining step in Hut 8's ( HUT ) evolution into one of the largest energy and digital infrastructure platforms in the world," said Chief Executive Asher Genoot. "In addition to driving scale, this expansion is designed to broaden our geographic footprint as we seek to capture opportunities in markets where we see energy demand rising most rapidly. Importantly, it represents just the first phase of execution against a multi-gigawatt energy origination pipeline that underpins our long-term growth trajectory."

HUT 8 ( HUT ) is down US$0.06, to US$23.39 in U.S. pre-market trade.