Hut 8 (NASDAQ: HUT) CEO Asher Genoot endorsed Texas Governor Greg Abbott’s expanded audit of data-center projects on Blockspace Live today, arguing that the review should give communities more confidence in responsible development and remove speculative power requests from ERCOT’s interconnection queue.

“I actually think what Governor Abbott did was extremely smart because there’s so much investment in data centers going into Texas,” Genoot said. “It’s better to get ahead of this and say, we’re going to make sure that this investment is done in a responsible way that helps build communities.”

Abbott ordered the Public Utility Commission of Texas and ERCOT on August 3 to audit every data center advancing through ERCOT’s interconnection process before allowing projects to proceed. ERCOT subsequently paused Batch Zero, its process for assessing large-load projects of at least 75 MW and identifying the transmission upgrades needed to serve them.

Genoot characterized the audit as a measured response to public concerns over data centers’ effects on power prices, water supplies, and local infrastructure. He said the state was right to scrutinize whether developers would build responsibly rather than allowing opposition to harden around the industry.

Genoot said Hut 8 was among the companies that answered an earlier Texas Public Utilities Commission questionnaire covering many of the same issues raised in Abbott’s order. The audit requests information on electricity and water consumption, cooling systems, public incentives, ownership, noise controls, and traffic planning.

Only 28 of the 377 companies contacted responded to the earlier survey, according to The Texas Tribune. Genoot argued that a mandatory review could help clear phantom load associated with projects that lack firm development plans or contracted demand.

ERCOT said in June that it was tracking more than 438 GW of large-load requests, with data centers accounting for nearly 89%. Abbott’s office subsequently put the figure at more than 474 GW, over five times ERCOT’s record peak demand.

Hut 8 joins a list of data center developers falling in line with the Texas governor’s order. But not everyone agrees. In an interview with Punchbowl, President Trump disagreed with the order, saying data centers could be “bigger than oil.”

CleanSpark’s latest earnings revealed new details about the cost and financing strategy for its Sandersville AI campus, and MARA said it is nearing its first AI agreement.

Hut 8 CEO Asher Genoot joins the show to discuss the company’s quarterly results plus future data center plans. Luxor’s Kaan Farahani reviews July’s bitcoin mining market and Nakamoto’s Brandon Bailey breaks down the biggest themes from earnings season.

KBW estimates that investors give CleanSpark credit for only 97 MW of its roughly 610 MW Sealy and Brazoria opportunity.

Texas recently ordered an audit of every data center project in ERCOT’s interconnection queue. Projects cannot advance until their reviews are complete. An August 20 Public Utility Commission hearing is the next potential catalyst.

KBW kept its Outperform rating plus a $25 price target.

B. Riley lifted its CleanSpark target from $19 to $26, citing the operator’s growing AI data center portfolio.

The valuation gives CleanSpark credit for its 175 MW Sandersville lease, which carries $6.6 billion of contracted revenue. B. Riley also modeled prospective AI capacity that remains unsigned.

CleanSpark expects Sandersville to cost between $1.75 billion and $2.1 billion. Management says it has funded its equity contribution to the project, while it will seek financing at or above 90% loan-to-cost.

MARA now expects to sign at least two AI or HPC leases before the end of 2026, up from its prior target of one.

Needham said tenant demand through MARA’s Starwood partnership has exceeded management’s initial expectations. The bank kept its Hold rating while waiting for more detail on the partnership’s economics.

MARA plans to finance its $1.5 billion Long Ridge acquisition with $600 million of new bitcoin-backed borrowing plus the assumption of roughly $900 million of debt. Needham estimates that 54% of MARA’s bitcoin will be pledged as collateral following the financing.

Anthropic has publicly confirmed that it is building an internal chip-design team.

The company is hiring silicon engineers plus hardware architects with experience shipping semiconductor designs. Anthropic currently runs Claude across Google TPUs, Nvidia hardware, plus Amazon silicon. An Anthropic representative told Business Insider that its custom chip will supplement that mix, not totally replace it

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