Hut 8, a bitcoin miner, surged on Thursday after speculation emerged that the company is partnering with Meta on a multibillion-dollar artificial intelligence data center project. The news sent shares of both Hut 8 and Meta jumping.
Meta, the parent company of Facebook and Instagram, has been establishing an AI development center in north Louisiana. According to reports, this $10 billion project will result in over 5,000 construction jobs and hundreds more indirect jobs.
Hut 8, meanwhile, plans to build a $12 billion AI data center in West Feliciana Parish, Louisiana. Although the company has not officially confirmed a partnership with Meta, speculation suggests that Hut 8’s facility is part of Meta’s plans for further data center expansion in the state.
The news boosted bitcoin prices, with shares jumping around 15% before paring gains to 2.4%. Bitcoin traded above $99,800 late Thursday, up about 139% this year.
Source: https://www.investors.com/news/hut-8-bitcoin-miner-ai-data-center-meta