India, July 2 -- Hut 8 Corp. (HUT), through its joint venture Far North Power Corp. with Macquarie Equipment Finance Ltd., has secured five-year capacity contracts for all four of its Ontario-based natural gas-fired power plants.
The contracts, awarded by the Ontario Independent Electricity System Operator or IESO through its Medium-Term 2 (MT2) auction, will begin on May 1, 2026, and cover 310 MW of nameplate capacity across Iroquois Falls, Kingston, Kapuskasing, and North Bay.
The agreements offer a weighted average capacity payment of approximately CAD $530 per MW-business day in the first year, with partial inflation indexing.
Hut 8 CEO Asher Genoot credited the company's strategic and regulatory expertise for the successful bids, ca...