{"id":865975,"date":"2025-07-02T06:33:08","date_gmt":"2025-07-02T10:33:08","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/hut-8-secures-five-year-capacity-contracts-with-ieso-for-310-mw-of-power-generation-assets\/"},"modified":"2025-07-02T06:33:08","modified_gmt":"2025-07-02T10:33:08","slug":"hut-8-secures-five-year-capacity-contracts-with-ieso-for-310-mw-of-power-generation-assets","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/hut-8-secures-five-year-capacity-contracts-with-ieso-for-310-mw-of-power-generation-assets\/","title":{"rendered":"Hut 8 Secures Five-Year Capacity Contracts with IESO for 310 MW of Power Generation Assets"},"content":{"rendered":"

\nContracts expected to deliver stable cash flows backed by investment-grade offtake to Hut 8\u2019s Power segment
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MIAMI, July 02, 2025 (GLOBE NEWSWIRE) — Hut 8 Corp. (Nasdaq | TSX:\u00a0HUT) (\u201cHut 8\u201d or the \u201cCompany\u201d), an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases such as Bitcoin mining and high-performance computing, today announced that each of its four natural gas-fired power plants in Ontario (collectively, the \u201cPortfolio\u201d) has been awarded a five-year capacity contract with the Ontario Independent Electricity System Operator (\u201cIESO\u201d). The Portfolio is owned and operated by Far North Power Corp. (\u201cFar North\u201d), an entity formed by Hut 8 and Macquarie Equipment Finance Ltd. (\u201cMacquarie\u201d), a subsidiary of Macquarie Group Limited, a global financial services group.<\/p>\n

The contracts were awarded to Far North following successful bids submitted into the competitive IESO Medium-Term 2 (\u201cMT2\u201d) capacity auction and will commence on May 1, 2026. The contracted assets total 310 MW of nameplate capacity across four sites: Iroquois Falls, Kingston, Kapuskasing, and North Bay. The contracts include a weighted average capacity payment of approximately CAD $530 per MW-business day in Year 1 with partial inflation indexation that allows for potential increases over time.<\/p>\n

\u201cSecuring these contracts is a testament to the commercial and regulatory fluency of our power-native team,\u201d said Asher Genoot, CEO of Hut 8. \u201cIt reflects our proactive approach to portfolio management and our focus on identifying value-accretive opportunities to maximize returns on our Power assets.\u201d<\/p>\n

\u201cThis milestone for Far North is affirmation of the business and our relationship with Hut 8,\u201d said Joshua Stevens, Managing Director in Macquarie Group\u2019s Commodities and Global Markets business. \u201cThese contracts position the Far North power plants in Ontario for long-term relevance in a capacity-constrained power market, demonstrating the value we strive to bring as a capital provider.\u201d<\/p>\n

\n Transaction Highlights<\/strong>\n <\/p>\n