Hut 8 Shares Rise on Plans for Four New Sites

By Nicholas G. Miller

Shares of Hut 8 rose after the company said it planned to develop four new sites with more than 1.5 gigawatts of capacity.

The stock was up 9.4% to $25.67 and has more than doubled over the past 12 months.

The bitcoin mining company said that with the additional sites, which will be in Louisiana, Texas and Illinois, its platform would exceed 2.5 gigawatts of capacity.

Hut 8 said the plans were intended to "meet growing demand from prospective customers across energy-intensive use cases."

Write to Nicholas G. Miller at nicholas.miller@wsj.com.