Core Viewpoint - Hut 8 Corp. has entered into a definitive share purchase agreement with TransAlta Corporation for the acquisition of a 310-megawatt portfolio of four natural gas-fired power plants in Ontario, concluding a multi-phase program aimed at stabilizing and strengthening the portfolio after its acquisition out of bankruptcy [1][2]. Company Overview - Hut 8 Corp. is an energy infrastructure platform that integrates power, digital infrastructure, and compute at scale, focusing on next-generation, energy-intensive use cases. The company manages 1,020 megawatts of energy capacity and has 1,530 megawatts under development across 19 sites in the U.S. and Canada [6][7]. Transaction Details - The transaction involves the sale of a portfolio that has transitioned from short-term, seasonal arrangements to long-term, investment-grade-backed revenue commitments, significantly enhancing cash-flow stability [2][3]. - Hut 8 executed operational and commercial measures to re-establish the assets as revenue-generating facilities, securing five-year capacity contracts through the Ontario IESO Medium-Term 2 auction [2][3]. Strategic Focus - Hut 8's management indicated that while the power generation assets are attractive, they are not core to the company's current strategy, which is focused on high-return opportunities within its development pipeline. The capital redeployed from this transaction will support those opportunities [4][3]. - The company continues to pursue a multi-gigawatt pipeline of power-first digital infrastructure development opportunities across North America [3][4]. TransAlta's Perspective - TransAlta views the acquisition as a means to enhance its position in Ontario through contracted and complementary assets, emphasizing the importance of reliable power generation for grid stability amid electrification and population growth [5].