Hut 8 Corp. (HUT) announced that each of its four natural gas-fired power plants in Ontario has been awarded a five-year capacity contract with the Ontario Independent Electricity System Operator.
The portfolio is owned and operated by Far North Power Corp. (FNPC), formed by Hut 8 and Macquarie Equipment Finance Ltd., a subsidiary of Macquarie Group Limited, a global financial services group.
The contracts were awarded to Far North following successful bids submitted into the competitive IESO Medium-Term 2 capacity auction.
These contracts will commence on May 1, 2026. Securing these contracts is a testament to the commercial and regulatory fluency of our power-native team, said Asher Genoot, CEO of Hut 8.
