Hut 8 and BITMAIN will release the next generation ASIC Bitcoin Miner with liquid-to-chip cooling

Hut 8 Corp. (Nasdaq | TSX: HUT), a leading Bitcoin mining company, has expanded its partnership with BITMAIN Technologies Ltd., the world’s largest manufacturer of Bitcoin mining servers, to launch the U3S21EXPH, a next-generation ASIC miner. This model will be the first mass-market miner to feature direct liquid-to-chip (DLC) cooling in a U-form factor.

Hut 8 plans to deploy the new miner in the second quarter of 2025, with an initial hosting agreement handling around 15 exahash per second (EH/s). This hosting deployment, facilitated by custom data center infrastructure developed in-house by Hut 8, is a key part of the company’s strategy to expand its computing power in the Bitcoin and AI computing sectors.

“Our partnership with BITMAIN has allowed us to advance our ASIC computing thinking and create a more scalable model for data center design as we expand our footprint,” said Asher Genoot, CEO of Hut 8. “The U3S21EXPH will be the first miner from BITMAIN is widely marketed with DLC cooling in a U form factor, making it rack-ready like traditional data center hardware. This innovation bridges a critical engineering gap between Bitcoin mining and AI data center infrastructure in both form factor and cooling technology, and we believe this convergence will allow us to unlock significant synergies and flexibility in future.”

The U3S21EXPH can achieve an efficiency of 13 joules per terahash, producing up to 860 terahash. It uses DLC cooling, a technology traditionally reserved for high performance computing (HPC) data centers, to make Bitcoin mining more energy efficient and scalable.

“Asher and Mike have been invaluable thought partners to BITMAIN since US Bitcoin Corp’s inception, where they have demonstrated a unique focus on cost-effective acquisitions and operations,” said Irene Gao, Vice President of Mining at BITMAN. “Hut 8’s technical know-how, experience, operational strength and track record of innovation made this partnership a natural evolution of our relationship as we embarked on the journey of developing next-generation ASIC technology.”

The commercial agreement between Hut 8 and BITMAIN includes a fixed hosting fee and a purchase option for Hut 8 to purchase the hosted machines in up to three installments. This structure allows Hut 8 to assess market conditions before making further investments, minimizing financial risk. If Hut 8 exercises this purchase option, its self-powered capacity could increase from 5.6 EH/s to 20.6 EH/s.