The effect unit in Bitcoin miner hut 8 (Hut) the country has a five-year capacity contract with Ontario’s independent electricity system operator, giving the Miami-based company a reliable paycheck for 310 megawatt natural gas generation.
The deal covers plants in Iroquois Falls, Kingston, Kapuskasing and North Bay, all of which are owned by Lar North, Hut 8’s Joint Venture with Macquarie Equipment Finance.
From May 2026, according to a press release, the plants will earn an average CAD $ 530 ($ 388.5) Per Megawatt-Business Day in the first year of partial inflation index. Income comes from an AGAIN for AA3-supported AA3 classified.
Ontario forecasts electricity demand will grow 75% by 2050, with a deficit of up to 5.8 gigawatts as early as 2030, adding release.
Huting shares are higher by more than 15% on the news, leading the mining sector higher. Cleanspark (CLSK)Mara Holdings (Mara) and rebel platforms (RIOT) is in front of a little less than 10%.
Just yesterday, American Bitcoin Corp revealed a miner 80%owned by HUT 8 and supported by Eric and Donald Trump Jr.
