On March 19, 2018, Hut 8 Mining Corp. (Hut 8), a cryptocurrency mining and blockchain infrastructure company, entered into an electricity supply agreement with the City of Medicine Hat (CMH).
The agreement is for the supply of 42 MW of electric energy and the lease of land upon which Hut 8 will construct and operate its mining facilities near the City of Medicine Hat’s new Unit 16 power plant.
The electricity supply agreement and the land lease have a concurrent term of 10 years. The expansion marks Hut 8’s commitment of a $100-million construction investment in the community, all of which is fully funded.
Hut 8 was represented by Frederick Erickson, Kurtis Reed and Michael Witt of Stikeman Elliott LLP.
The City of Medicine Hat was represented in-house by Benjamin Bullock, Matthew Klasen and Linnsie Clark.