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<a href="https://ultramining.com/news/en/hut-8s-q2-2023-a-bitcoin-mining-marvel/">Hut 8</a> Corp., a trailblazer in North America's digital asset mining and high-performance computing, recently announced a significant stride in its growth journey. The company's stalking horse bid, in partnership with Macquarie Equipment Finance Ltd., for four natural gas power plants, including a Bitcoin mine in North Bay, has been declared successful. This strategic move, once finalized, will see Hut 8’s new Ontario subsidiary, BidCo, acquire assets of certain Validus Entities. The deal encompasses a 40 MW facility in Kapuskasing, a 110 MW facility in Kingston, a 120 MW facility in Iroquois Falls, and a 40 MW facility with a Bitcoin mine in North Bay, according to <a href="https://www.globenewswire.com/news-release/2023/12/12/2794569/0/en/Update-on-Hut-8-s-Stalking-Horse-Bid-for-four-natural-gas-power-plants-including-the-North-Bay-Bitcoin-mine.html">Globenewswire</a>. 
This acquisition aligns with Hut 8's innovative approach to intersect infrastructure and energy through Bitcoin mining, <a href="https://ultramining.com/news/en/bitcoin-mining-reshaping-landscape-amid-global-interest-surge/">hosting</a>, and other emerging technologies. It's a game-changer for the company, set to bolster its presence in the industry significantly. Macquarie will hold a 20% minority equity interest in BidCo, while a subsidiary of Hut 8 will retain the majority share. The deal also includes a secured <a href="https://ultramining.com/news/en/liquidstack-secures-funding-to-boost-eco-friendly-bitcoin-mining-in-the-u-s/">funding</a> arrangement and is expected to resolve ongoing litigation claims between Hut 8 and certain Validus Entities.&nbsp; 
Final approval from the Ontario Superior Court of Justice and fulfillment of standard closing conditions remain the key hurdles before the deal's anticipated completion in January 2024. This step not only strengthens Hut 8’s infrastructure portfolio but also reinforces its position as a leader in high-performance computing, offering cloud, AI, and machine learning solutions across multiple sites.&nbsp;

Hut 8’s Bold Move into Natural Gas Power

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