Hamiltonian Truncation (a.k.a. Truncated Spectrum Approach) is a numerical technique for solving strongly coupled QFTs, in which the full Hilbert space is truncated to a finite-dimensional low-energy subspace. The accuracy of the method is limited only by the available computational resources. The renormalization program improves the accuracy by carefully integrating out the high-energy states, instead of truncating them away. In this paper we develop the most accurate ever variant of Hamiltonian Truncation, which implements renormalization at the cubic order in the interaction strength. The novel idea is to interpret the renormalization procedure as a result of integrating out exactly a certain class of high-energy "tail states". We demonstrate the power of the method with high-accuracy computations in the strongly coupled two-dimensional quartic scalar theory, and benchmark it against other existing approaches. Our work will also be useful for the future goal of extending Hamiltonian Truncation to higher spacetime dimensions.

28pp + appendices, detailed version of arXiv:1706.06121