The Calgary-based power company said it would pay $95 million for the natural gas-fired facilities in Iroquois Falls, Kingston, North Bay and Kapuskasing, adding a combined 310 megawatts. Far North Power, a partnership between former bitcoin miner Hut 8 and Macquarie Equipment Finance, currently owns the four operations. (The Logic)
Skip to content
The Calgary-based power company said it would pay $95 million for the natural gas-fired facilities in Iroquois Falls, Kingston, North Bay and Kapuskasing, adding a combined 310 megawatts. Far North Power, a partnership between former bitcoin miner Hut 8 and Macquarie Equipment Finance, currently owns the four operations. (The Logic)
Talking point: With the purchase, TransAlta would expand its Ontario power portfolio to 1,300 megawatts. Far North Power made clear its intent to sell the four facilities after acquiring them from its former owner, Validus Power, last year. Canadian-founded Hut 8 was previously Canada’s largest bitcoin miner, but earlier this year spun off its mining business into American Bitcoin, of which Trump’s two eldest sons own roughly 20 per cent.
Loading...
Thanks for sharing!
You have shared 5 articles this month and reached the maximum amount of shares available.
CloseThis account has reached its share limit.
If you would like to purchase a sharing license please contact The Logic support at [email protected].
CloseGift the full article!
You have gifted 0 article(s) this month and have 5 remaining.
Recipients will be able to read the full text of the article after submitting their email address. They will not have access to other articles or subscriber benefits.
Most Popular This Week
In-depth, agenda-setting reporting
Great journalism delivered straight to your inbox.
News
Big Tech says it will work with Ottawa on plan to ban kids from social media
Briefing
Grok-generated sexual deepfakes violate Canadian law, privacy commissioner finds
Climate standards-setter unveils more lenient rules for companies
HOOPP CEO says investors may be more exposed to AI than they realize
Best business newsletter in Canada
Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.
Exclusive events
See the bigger picture with reporters and industry experts in subscriber-exclusive events.
Membership in The Logic Council
Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.
