Hut 8 deepens Bitmain partnership with launch of new ASIC miner in 2025

Bitcoin miner Hut 8 is expanding its partnership with Bitmain, introducing a new ASIC miner with direct liquid-cooled chip, scheduled for deployment in the second quarter of 2025.

Miami-based crypto mining firm Hut 8 has expanded its partnership with Bitmain, announcing the launch of its next-generation ASIC miner, the U3S21EXPH, capable of reaching speeds of up to 860 TH/s.

Miner, scheduled for shipment in the second quarter of 2025, is the first mass-production ASIC model in the U form factor to feature direct liquid-chip cooling, the company announced in a September 19 press release.

“We believe this model represents a more thoughtful approach to capturing the lucrative economics offered by next-generation machines, reducing upfront capital requirements while continuing our growth initiatives in AI infrastructure.”

Asher Genoot, CEO of Hut8

Under the hosting agreement, Hut 8 has the option to purchase all or part of the hosted miners for a fixed price within six months of deployment, in up to three tranches. If Hut 8 exercises the option in full, the company’s self-mining hashrate is expected to increase from 5.6 EH/s to 20.6 EH/s, the press release reads.

The document says the deal is designed to minimize upfront capital expenditures and provide flexibility for future acquisitions, allowing Hut 8 to assess market conditions “before committing additional capital.”

The news comes after Hut 8 secured a $150 million investment from Coatue Management in June to accelerate its AI infrastructure development. At the time, Hut 8 said the investment was made because “many traditional data center operators are unable to meet the increasing demand for AI computing capacity due to power outages.”