Hut 8 Energizes Vega Data Center
Hut 8 Corp. (Nasdaq | TSX: HUT) has announced the initial energization of Vega, believed to be the largest single-building Bitcoin mining facility by nameplate hashrate. The 205-megawatt facility spans 162,000 square feet and will support up to ~15 exahash per second (EH/s) of BITMAIN U3S21EXPH servers, representing nearly 2.0% of current global Bitcoin network hashrate.
The facility features a proprietary, rack-based, direct-to-chip liquid cooling system supporting ASIC deployments at densities of up to 180 kilowatts per rack. BITMAIN has committed to the full ~15 EH/s deployment under an ASIC colocation agreement expected to generate $110-120 million in annualized revenue upon full energization. The agreement includes a purchase option allowing Hut 8 to acquire the hosted fleet in up to three tranches.
Key technical specifications include a power usage effectiveness (PUE) of 1.06, capacity to host 17,280 BITMAIN U3S21EXPH servers, and 96 custom-designed cooling modules. The project was completed in under a year at an estimated cost of $430,000-450,000 per MW of nameplate capacity.
Hut 8 Corp. (Nasdaq | TSX: HUT) ha annunciato l'accensione iniziale di Vega, ritenuta la più grande struttura di mining Bitcoin in un unico edificio per capacità di hashrate nominale. La struttura da 205 megawatt si estende su 15.000 metri quadrati e supporterà fino a ~15 exahash per secondo (EH/s) di server BITMAIN U3S21EXPH, rappresentando quasi il 2,0% dell'attuale hashrate globale della rete Bitcoin.
La struttura dispone di un sistema proprietario di raffreddamento a liquido diretto al chip basato su rack, che supporta implementazioni ASIC con densità fino a 180 kilowatt per rack. BITMAIN si è impegnata a completare l'implementazione di ~15 EH/s nell'ambito di un accordo di colocazione ASIC, che si prevede genererà 110-120 milioni di dollari di ricavi annualizzati una volta completata l'attivazione. L'accordo include un'opzione di acquisto che consente a Hut 8 di acquisire la flotta ospitata in fino a tre tranche.
Le specifiche tecniche principali includono un'efficienza energetica (PUE) di 1,06, la capacità di ospitare 17.280 server BITMAIN U3S21EXPH e 96 moduli di raffreddamento progettati su misura. Il progetto è stato completato in meno di un anno con un costo stimato di 430.000-450.000 dollari per MW di capacità nominale.
Hut 8 Corp. (Nasdaq | TSX: HUT) ha anunciado la puesta en marcha inicial de Vega, considerada la mayor instalación de minería de Bitcoin en un solo edificio por tasa de hash nominal. La instalación de 205 megavatios abarca 15,000 metros cuadrados y soportará hasta ~15 exahashes por segundo (EH/s) de servidores BITMAIN U3S21EXPH, representando casi el 2,0% de la tasa de hash global actual de la red Bitcoin.
La instalación cuenta con un sistema propietario de refrigeración líquida directa al chip basado en racks, que soporta implementaciones ASIC con densidades de hasta 180 kilovatios por rack. BITMAIN se ha comprometido a desplegar completamente ~15 EH/s bajo un acuerdo de colocación ASIC que se espera genere 110-120 millones de dólares en ingresos anualizados tras la plena activación. El acuerdo incluye una opción de compra que permite a Hut 8 adquirir la flota alojada en hasta tres tramos.
Las especificaciones técnicas clave incluyen una eficiencia energética (PUE) de 1,06, capacidad para alojar 17,280 servidores BITMAIN U3S21EXPH y 96 módulos de refrigeración diseñados a medida. El proyecto se completó en menos de un año con un costo estimado de 430,000-450,000 dólares por MW de capacidad nominal.
Hut 8 Corp. (Nasdaq | TSX: HUT)는 단일 건물 기준으로 명목 해시레이트가 가장 큰 것으로 추정되는 비트코인 채굴 시설인 Vega의 초기 가동을 발표했습니다. 이 205메가와트 시설은 15,000평방미터에 걸쳐 있으며, BITMAIN U3S21EXPH 서버 약 15 엑사해시 초당 (EH/s)를 지원할 예정으로, 이는 현재 전 세계 비트코인 네트워크 해시레이트의 거의 2.0%에 해당합니다.
이 시설은 ASIC 배치를 위해 최대 랙당 180킬로와트 밀도의 독자적인 랙 기반 칩 직접 액체 냉각 시스템을 갖추고 있습니다. BITMAIN은 ASIC 콜로케이션 계약에 따라 전체 약 15 EH/s 배치를 약속했으며, 완전 가동 시 연간 1억 1천만~1억 2천만 달러의 수익을 창출할 것으로 예상됩니다. 이 계약에는 Hut 8이 호스팅된 장비를 최대 세 차례에 걸쳐 인수할 수 있는 구매 옵션이 포함되어 있습니다.
주요 기술 사양으로는 1.06의 전력 사용 효율(PUE), 17,280대의 BITMAIN U3S21EXPH 서버 수용 능력, 96개의 맞춤형 냉각 모듈이 있습니다. 이 프로젝트는 1년 이내에 완공되었으며 명목 용량 MW당 약 43만~45만 달러의 비용이 들었습니다.
Hut 8 Corp. (Nasdaq | TSX: HUT) a annoncé la mise en service initiale de Vega, considérée comme la plus grande installation de minage de Bitcoin dans un seul bâtiment en termes de taux de hachage nominal. L'installation de 205 mégawatts s'étend sur 15 000 pieds carrés et pourra supporter jusqu'à ~15 exahash par seconde (EH/s) de serveurs BITMAIN U3S21EXPH, représentant près de 2,0 % du taux de hachage global actuel du réseau Bitcoin.
L'installation dispose d'un système de refroidissement liquide direct au puce, propriétaire et basé sur des racks, supportant des déploiements ASIC à des densités allant jusqu'à 180 kilowatts par rack. BITMAIN s'est engagé à déployer la totalité des ~15 EH/s dans le cadre d'un accord de colocation ASIC, qui devrait générer 110 à 120 millions de dollars de revenus annuels une fois la mise en service complète réalisée. L'accord inclut une option d'achat permettant à Hut 8 d'acquérir la flotte hébergée en jusqu'à trois tranches.
Les principales spécifications techniques incluent une efficacité énergétique (PUE) de 1,06, la capacité d'héberger 17 280 serveurs BITMAIN U3S21EXPH, et 96 modules de refroidissement conçus sur mesure. Le projet a été achevé en moins d'un an pour un coût estimé entre 430 000 et 450 000 dollars par MW de capacité nominale.
Hut 8 Corp. (Nasdaq | TSX: HUT) hat die erste Inbetriebnahme von Vega bekannt gegeben, die als die größte Bitcoin-Mining-Anlage in einem einzigen Gebäude nach Nenn-Hashrate gilt. Die 205-Megawatt-Anlage erstreckt sich über 15.000 Quadratmeter und wird bis zu ~15 Exahash pro Sekunde (EH/s) von BITMAIN U3S21EXPH-Servern unterstützen, was fast 2,0 % der aktuellen globalen Bitcoin-Netzwerk-Hashrate entspricht.
Die Anlage verfügt über ein proprietäres, rackbasiertes Direkt-zu-Chip-Flüssigkeitskühlsystem, das ASIC-Einsätze mit Dichten von bis zu 180 Kilowatt pro Rack unterstützt. BITMAIN hat sich verpflichtet, die vollständige ~15 EH/s Bereitstellung im Rahmen eines ASIC-Colocation-Vertrags durchzuführen, von dem erwartet wird, dass er bei vollständiger Inbetriebnahme 110-120 Millionen US-Dollar Jahresumsatz generiert. Der Vertrag beinhaltet eine Kaufoption, die Hut 8 erlaubt, die gehostete Flotte in bis zu drei Tranchen zu erwerben.
Wesentliche technische Spezifikationen umfassen eine Energieeffizienz (PUE) von 1,06, die Kapazität zur Aufnahme von 17.280 BITMAIN U3S21EXPH-Servern und 96 maßgeschneiderte Kühlmodule. Das Projekt wurde in weniger als einem Jahr mit geschätzten Kosten von 430.000-450.000 US-Dollar pro MW Nennleistung abgeschlossen.
- None.
- Significant capital investment required ($430,000-450,000 per MW)
- High concentration risk with single client (BITMAIN) for entire facility
- Exposure to ERCOT energy pricing volatility affecting revenue
- Facility uptime uncertainty could impact projected revenue
Insights
Hut 8's Vega facility represents a revolutionary leap in Bitcoin mining infrastructure with industry-leading density and efficiency metrics.
The energization of Hut 8's Vega data center marks a significant milestone in Bitcoin mining infrastructure evolution. At 205 MW supporting up to ~15 EH/s, this facility would represent nearly 2% of current global Bitcoin network hashrate in a single building – an unprecedented concentration of mining power.
What makes Vega truly innovative is its departure from traditional air-cooled shelving systems toward a rack-based architecture with direct-to-chip liquid cooling. This proprietary system enables extraordinarily high density deployments at 180 kW per rack – which remarkably exceeds even NVIDIA Blackwell GPU requirements by 50%. The power usage effectiveness (PUE) of 1.06 is exceptionally efficient for a facility of this scale.
The economics are compelling. The colocation agreement with BITMAIN is expected to generate
Most intriguing is Hut 8's purchase option structure, which provides flexibility to convert from a hosting model to self-mining. If exercised, this would increase their Bitcoin production capacity from 10 EH/s to 25 EH/s – a
The rapid development timeline – under 12 months from site acquisition to energization – demonstrates execution capabilities that are increasingly valuable in an industry where speed-to-market creates competitive advantages. The behind-the-meter wind farm connection also provides potential electricity cost advantages in the volatile ERCOT market.
The Vega facility represents a significant architectural breakthrough in bridging traditional data center design paradigms. What's groundbreaking here isn't just scale, but the technical architecture that narrows the gap between ASIC mining facilities and high-performance computing infrastructure.
The direct-to-chip liquid cooling system is particularly noteworthy. Unlike immersion cooling that submerges entire servers, this approach targets heat removal at the component level where it's generated. The closed-loop system circulating 120,000 gallons of glycol-water solution through 96 custom cooling modules demonstrates sophisticated thermal engineering that reduces water consumption compared to traditional cooling approaches.
The rack-based infrastructure supporting 180 kW per rack represents compute density that exceeds what's typically deployed even for advanced AI workloads. For context, this density surpasses NVIDIA Blackwell GPU requirements by
Most traditional Bitcoin mining operations use rudimentary shelving systems with air cooling that severely limit density and thermal efficiency. Vega's modular approach with its custom pump skids, fluid distribution networks, and smart power distribution units creates a template that could be replicated for other compute-intensive applications beyond cryptocurrency.
What's particularly forward-thinking is the potential application of this architecture for AI training and HPC workloads. As compute requirements grow exponentially, this type of application-optimized infrastructure—prioritizing density and efficiency over traditional redundancy—could represent the future of specialized compute infrastructure. The extraordinarily low PUE of 1.06 demonstrates how effectively this system manages power consumption, a critical factor for both operational costs and environmental impact.
205 MW facility will support up to ~15 EH/s of next-generation rack-based ASIC compute with direct-to-chip liquid cooling
Believed to be the largest single-building Bitcoin mining facility by nameplate hashrate
MIAMI, June 30, 2025 (GLOBE NEWSWIRE) -- Hut 8 Corp. (Nasdaq | TSX: HUT) (“Hut 8” or the “Company”), an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases such as Bitcoin mining and high-performance computing, today announced the initial energization of Vega. Based on publicly available information, we believe Vega to be the largest single-building Bitcoin mining facility by nameplate hashrate. Spanning the equivalent of five football fields and covering 162,000 square feet, Vega is powered by 205 megawatts (“MW”) of nameplate energy capacity and at full energization will support up to ~15 exahash per second (“EH/s”) of BITMAIN U3S21EXPH servers for Bitcoin mining ASIC compute, or nearly
Vega debuts a new Tier I data center form factor that narrows the gap between legacy air-cooled ASIC infrastructure and liquid-cooled GPU infrastructure. Unlike traditional mining facilities that rely on forced-air cooling and shelving systems that constrain compute density, Vega features a proprietary, rack-based, direct-to-chip liquid cooling system designed in-house by Hut 8. The architecture supports ASIC deployments at densities of up to 180 kilowatts (“kW”) per rack.
The system’s modular architecture—including pump skids, fluid distribution networks, server racks, switchboards, and smart power distribution units—was designed by Hut 8’s in-house development organization to optimize thermal efficiency, miner stability, and operational reliability. The result is materially higher compute density, greater thermal control, and improved uptime in high-ambient environments like Texas. Initial customer discussions support the potential viability of this architecture for future iterations of high-density, direct-to-chip liquid cooled infrastructure to support emerging HPC workloads and customer needs.
“Vega exemplifies our innovation-driven approach to digital infrastructure design,” said Asher Genoot, CEO of Hut 8. “We built it for where we believe the market is going, using modular architecture and adaptive thermal systems designed to scale and evolve as workload requirements grow more complex. Over the past several weeks, as we’ve brought the site online, it has become clear how well this architecture performs under real-world conditions.”
“Vega’s design is particularly relevant for AI training and other non-customer-facing HPC workloads, where we believe speed, density, and cost efficiency will increasingly take precedence over traditional redundancy standards,” said Jake Palmer, Senior Vice President of Development at Hut 8. “The project represents a design philosophy we intend to scale, refine, and deploy as we continue to bridge the gap between high-cost, high-redundancy builds and lower-cost, application-optimized infrastructure.”
BITMAIN is the client for the full ~15 EH/s deployment at Vega under an ASIC colocation agreement. Based on ERCOT forward energy prices, the agreement is expected to generate between
“We are proud to have partnered with Hut 8 to successfully develop and commercialize the next generation of ASIC compute technology,” said Irene Gao, Vice President of Mining at BITMAIN. “Vega demonstrates what is possible when two industry leaders with deep technical expertise come together to push the boundaries of performance, efficiency, and design. We believe this collaboration has set a new benchmark for the industry, and we look forward to expanding on this success in the coming years.”
Project Highlights
- Industrial scale: 205 MW of nameplate capacity with a power usage effectiveness (“PUE”) of 1.06, powered behind-the-meter by a wind farm and front-of-the-meter by the ERCOT grid
- Rack-based architecture: Proprietary rack-based architecture supports 180 kilowatts per rack,
50% higher than the 120-kW requirement of NVIDIA Blackwell HGX GPUs - Next-generation ASIC compute technology: Site will host up to 17,280 BITMAIN U3S21EXPH servers (at full energization), the first ASIC miner mass-commercialized by BITMAIN with direct liquid-to-chip cooling within a U form factor, each delivering up to 860 terahash per second (“TH/s”) at 13 joules per terahash (“J/TH”)
- Direct-to-chip liquid cooling: 96 custom-designed cooling modules circulate 120,000 gallons of glycol-water solution through a closed-loop, reverse return system designed to reduce water consumption versus conventional high-density cooling systems
- Capital efficiency: Estimated all-in cost of approximately
$430,000 t o$450,000 per MW of nameplate capacity - Time to market: From site acquisition in July 2024 to initial energization in June 2025, Vega was brought online in under a year, demonstrating Hut 8’s ability to use Bitcoin mining infrastructure development to rapidly monetize power assets
- Commercialization through ASIC Colocation: BITMAIN will consume the full ~15 EH/s deployment at full energization pursuant to a colocation agreement that will generate revenue for Hut 8's Digital Infrastructure segment and includes a purchase option that, if exercised, would enable American Bitcoin to scale its self-mining capacity from 10 to ~25 EH/s
About Hut 8
Hut 8 Corp. is an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases such as Bitcoin mining and high-performance computing. We take a power-first, innovation-driven approach to developing, commercializing, and operating the critical infrastructure that underpins the breakthrough technologies of today and tomorrow. Our platform spans 1,020 megawatts of energy capacity under management across 15 sites in the United States and Canada: five Bitcoin mining, hosting, and Managed Services sites in Alberta, New York, and Texas, five high performance computing data centers in British Columbia and Ontario, four power generation assets in Ontario, and one non-operational site in Alberta. For more information, visit www.hut8.com and follow us on X at @Hut8Corp.
Cautionary Note Regarding Forward–Looking Information
This press release includes “forward-looking information” and “forward-looking statements” within the meaning of Canadian securities laws and United States securities laws, respectively (collectively, “forward-looking information”). All information, other than statements of historical facts, included in this press release that address activities, events, or developments that Hut 8 expects or anticipates will or may occur in the future, including statements relating to the ability of the Vega facility to support up to ~15 EH/s of next-generation rack-based ASIC compute with direct-to-chip liquid cooling, the ability of Vega’s new Tier I data center form factor to narrow the gap between legacy air-cooled ASIC infrastructure and liquid-cooled GPU infrastructure, the ability of the infrastructure at the Vega facility to support ASIC deployments at densities of up to 180 kW per rack, the ability of the facility’s modular infrastructure to scale and evolve as workload requirements grow more complex, the performance of the infrastructure deployed at the Vega facility under real-world conditions, the relevance of the Vega design to AI training and other non-customer-facing HPC workloads, Hut 8’s intention to scale, refine, and deploy its design philosophy to bridge the gap between high-cost, high-redundancy builds and lower-cost, application-optimized infrastructure, the estimated revenues from the Bitmain colocation agreement and the factors impacting such revenues, the potential exercise of the ASIC purchase option and the benefits thereof to Hut 8 and American Bitcoin Corp., the total all-in cost to develop the Vega facility, and other such matters is forward-looking information. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “allow”, “believe”, “estimate”, “expect”, “predict”, “can”, “might”, “potential”, “predict”, “is designed to”, “likely,” or similar expressions.
Statements containing forward-looking information are not historical facts, but instead represent management’s expectations, estimates, and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by Hut 8 as of the date of this press release, such statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information, including, but not limited to, failure of critical systems; geopolitical, social, economic, and other events and circumstances; competition from current and future competitors; risks related to power requirements; cybersecurity threats and breaches; hazards and operational risks; changes in leasing arrangements; Internet-related disruptions; dependence on key personnel; having a limited operating history; attracting and retaining customers; entering into new offerings or lines of business; price fluctuations and rapidly changing technologies; construction of new data centers, data center expansions, or data center redevelopment; predicting facility requirements; strategic alliances or joint ventures; operating and expanding internationally; failing to grow hashrate; purchasing miners; relying on third-party mining pool service providers; uncertainty in the development and acceptance of the Bitcoin network; Bitcoin halving events; competition from other methods of investing in Bitcoin; concentration of Bitcoin holdings; hedging transactions; potential liquidity constraints; legal, regulatory, governmental, and technological uncertainties; physical risks related to climate change; involvement in legal proceedings; trading volatility; and other risks described from time to time in Company’s filings with the U.S. Securities and Exchange Commission. In particular, see the Company’s recent and upcoming annual and quarterly reports and other continuous disclosure documents, which are available under the Company’s EDGAR profile at www.sec.gov and SEDAR+ profile at www.sedarplus.ca.
Hut 8 Corp. Investor Relations
Sue Ennis
ir@hut8.com
Hut 8 Corp. Public Relations
Gautier Lemyze-Young
media@hut8.com
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FAQ
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