Hut 8 secures 5-year contract for 310 MW natural gas power in Ontario

From Nasdaq.: 2025-07-02 23:42:00

Hut 8 Corp. secures five-year capacity contracts for all four Ontario-based natural gas-fired power plants through joint venture Far North Power Corp. and Macquarie Equipment Finance Ltd. Contracts cover 310 MW of capacity starting May 1, 2026, with a weighted average capacity payment of CAD $530 per MW-business day in the first year, partially indexed for inflation. CEO Asher Genoot and Macquarie’s Joshua Stevens highlight strategic value and long-term role in Ontario’s power market. Contracts offer stability, revenue predictability, and income growth potential amid rising electricity demand and capacity shortfalls. HUT stock closed at $21.08, up 14.07%, on Wednesday.



Read more at Nasdaq.: Hut 8 Secures 5-Year IESO Contracts For 310 MW Natural Gas Power Portfolio In Ontario