$HUT is down ~5.5% today after a squishy Q2 earnings landed alongside Gov. Abbott's Aug. 3 order freezing new Texas data center approvals pending a comprehensive ERCOT audit, which also paused the Batch Zero interconnection review. The call told a more interesting story though: HUT's two flagship projects, River Bend and Beacon Point, are already contracted, financed with $7.5B in investment-grade non-recourse notes, and in active construction, so Abbott's audit doesn't really touch them. The pipeline (8.7 GW, 11 sites) is multi-state by design, and management flagged behind-the-meter power as potentially the fastest path to new capacity, which could sidestep the ERCOT queue altogether. The Batch Zero pause could also be a net positive for HUT. They were one of the few companies to actua
View on X ↗