July 4 (Cointime) - Bitcoin mining company Hut 8 is relocating 6,400 rigs from its facility in Ontario, Canada to Texas due to increased demand for AI and high-performance computing. This move is part of the company's plan to revive its operations after facing hurdles, including a legal dispute with energy supplier Validus.

Hut 8 aims to resume mining activities at the end of July, with a projected total hashrate of 3.2 exahashes per second. The company's CEO expressed positivity about the state of BTC mining operations and the industry's rebound, with many firms expanding their base ahead of the 2024 halving.