Hut 8 Expands Partnership with Bitmain to Introduce New ASIC Miner with Liquid-to-Chip Cooling
Miami-based Bitcoin mining firm Hut 8 has announced an expansion of its partnership with Bitmain, revealing plans for the release of the U3S21EXPH, a cutting-edge ASIC miner capable of achieving speeds of up to 860 TH/s. This new miner, set to be deployed in the second quarter of 2025, marks a significant advancement in mining technology as it will be the first mass-commercialized ASIC model to feature direct liquid-to-chip cooling in a U-form factor.
In a statement released on September 19, Hut 8’s Chief Executive Officer, Asher Genoot, expressed his excitement about the new model, stating, “We believe this model represents a more thoughtful approach to capturing the lucrative economics offered by next-generation machines, reducing upfront capital requirements while we continue to pursue growth initiatives in AI infrastructure.”
As part of the partnership agreement, Hut 8 will have the option to purchase the hosted miners in three tranches at a fixed price within six months of deployment. If Hut 8 chooses to exercise this option in full, the company’s self-mining hashrate is expected to skyrocket from 5.6 EH/s to 20.6 EH/s, a substantial increase in mining power.
This strategic agreement is designed to minimize upfront capital expenditures for Hut 8 and provide flexibility for future purchases, allowing the company to assess market conditions before committing additional capital. The news of this partnership expansion comes on the heels of Hut 8 securing a $150 million investment from Coatue Management in June to accelerate its artificial intelligence infrastructure development.
With traditional data center operators struggling to meet the growing demand for AI compute capacity due to power shortages, Hut 8’s focus on expanding its mining capabilities with innovative technology like the U3S21EXPH ASIC miner positions the company as a leader in the cryptocurrency mining industry.
Stay tuned for more updates on Hut 8’s advancements in mining technology and its commitment to driving innovation in the AI infrastructure space.