Hut 8 Corp. has signed an interim agreement to build out and install mining operations in connection with the Celsius Network LLC bankruptcy proceedings at a site in Cedarvale, Texas. Once complete, the site will house approximately 66,000 miners and be powered by more than 215 MW of energy.

Under the interim agreement with Celsius Mining LLC, Hut 8 will provide end-to-end development services for the Cedarvale site, and construction is expected to begin in the coming weeks. The scope of the services to be provided includes site design, engineering, financial modeling, budgeting, accounting, construction management, procurement, logistics, and RFP coordination.