Hut8 American Bitcoin — Source: CoinGape Hut 8 relocates to a 56,600-square-foot Miami headquarters, nearly seven times larger than its previous office. The company secures $26.6 billion in e
In a major expansion, American Bitcoin majority owner Hut 8 Corp. is expanding its presence in Miami.
It has relocated its headquarters to a significantly larger office in Miami, Florida. This comes as part of the company’s strategy to expand its energy infrastructure and artificial intelligence (AI) data center business.
The company has signed a long-term lease for 56,600 square feet of office space at 777 Brickell Avenue in Miami’s Brickell Financial District. The new headquarters is nearly seven times larger than its previous 8,500-square-foot office at 1101 Brickell Avenue. However, financial terms of the lease are not being disclosed.
Hut 8 formally moved into the new location in July, although interior improvements are still underway. San Francisco-based architecture and design firm Gensler designed the office.
The expansion comes as Hut 8 continues to grow beyond its traditional Bitcoin mining operations. It is strengthening its position in the energy and digital infrastructure sector. The company has secured $26.6 billion in expected base-term contract value across three hyperscale AI data center leases this year, alongside $7.5 billion in investment-grade project financing.
Hut 8 CEO Asher Genoot said the expanded headquarters would help maintain the company’s in-person operating culture as it enters its next phase of growth.
“We have always believed that great companies are built in person,” Genoot said. “In Hut 8’s earliest days, our teams lived onsite in remote parts of Texas and New York, building side by side to bring complex infrastructure projects online. Our expanded Miami headquarters carries that operating culture into the next phase of the business: a place where the best people in our industry come together to build.”
Its expanding infrastructure portfolio includes large-scale data center developments in Nueces County, Texas, and West Feliciana Parish, Louisiana.
The company’s AI infrastructure business has also become an increasingly important part of its growth strategy. According to its latest figures, Hut 8 has secured approximately $26.6 billion in expected aggregate base-term contract value across three hyperscale AI data center leases. These agreements cover 949 megawatts (MW) of contracted IT capacity and represent more than $1.75 billion in expected average annual net operating income.
Hut 8 has also secured $7.5 billion in investment-grade project financing to support its data center developments. The financing was completed through two offerings during the second quarter, without recourse to the parent company.
Separately, the company recently closed a $1.1 billion revolving credit facility backed by a syndicate of 12 banks, providing additional financial capacity as it advances its infrastructure projects.
Hut 8 reported net income attributable to the company of $131 million in the third quarter of 2026, compared with $50.11 million in the same period last year. Diluted earnings per share stood at $0.98.
However, the company’s revenue declined year over year during the quarter.
According to its third-quarter filing submitted to the US Securities and Exchange Commission (SEC), Hut 8 generated $71.07 million in revenue, representing a decline of approximately 14.9% from the previous year.
The company also reported a net loss attributable to it of $239 million for the first nine months of 2026.
One of the major contributors to its third-quarter earnings was the change in the fair value of its Bitcoin holdings. Hut 8 recorded approximately $414 million in Bitcoin fair-value gains during the quarter, alongside approximately $39.94 million in realized gains from Bitcoin sales.
This distinction is important because the increase in net income does not necessarily reflect an equivalent improvement in the company’s underlying operating performance. Changes in Bitcoin market prices can significantly influence the reported value of its cryptocurrency holdings and quarterly earnings.
Nevertheless, the company’s consolidated Bitcoin holdings highlight the scale of its exposure to the cryptocurrency market through both its direct operations and American Bitcoin.
American Bitcoin Owner Hut 8 Moves to New HQ in Miami Amid $26.6B AI Expansion originally appeared on CoinGape
