Key Points
- Hut 8 is partnering with Bitmain to launch a new ASIC miner with direct liquid-to-chip cooling in Q2 2025.
- The miner, U3S21EXPH, is expected to increase Hut 8’s self-mining hashrate from 5.6 EH/s to 20.6 EH/s.
Hut 8, a Bitcoin mining company, is set to extend its collaboration with Bitmain. The new partnership will introduce a novel ASIC miner that employs direct liquid-to-chip cooling. The launch is scheduled for the second quarter of 2025.
Details of the New ASIC Miner
The upcoming miner, dubbed U3S21EXPH, is a next-generation ASIC miner. It boasts a maximum capacity of 860 TH/s. This miner is the first of its kind to use direct liquid-to-chip cooling in a U-form factor.
Asher Genoot, the CEO of Hut 8, believes this model represents a more strategic way to capitalize on the lucrative opportunities provided by next-gen machines. He added that this approach reduces initial capital requirements while promoting growth initiatives in AI infrastructure.
Hosting Agreement and Future Plans
According to the hosting agreement, Hut 8 has the choice to buy all or part of the hosted miners in up to three tranches at a fixed price within six months of deployment. If Hut 8 fully utilizes the option, the company’s self-mining hashrate could potentially increase from 5.6 EH/s to 20.6 EH/s.
This agreement aims to reduce upfront capital expenditures and offer flexibility for future purchases. It also allows Hut 8 to evaluate market conditions before committing additional capital.
In other news, Hut 8 secured a $150 million investment from Coatue Management in June. This funding is intended to speed up its artificial intelligence infrastructure development. At that time, Hut 8 mentioned that the investment was necessary as many traditional data center operators struggle to meet the increasing demand for AI compute capacity due to power shortages.