February 12th, 2025

Hut 8 launches lawsuit in North Bay

By MEDICINE HAT NEWS on February 2, 2023.

https://www.medicinehatnews.com@MedicineHatNews

Hut 8 Cryptocurrency has launched a lawsuit to enforce a power deal key to its expansion in North Bay, Ont.

The Bitcoin miner company that has major operations in Medicine Hat announced in late 2021 that a moth-balled natural gas power station in North Bay would be refired to power a new data-processing centre.

That would be accomplished through a development agreement with Validus Power, but this fall, Hut 8 announced the project was stalled due to a contract dispute.

On Jan. 26, Hut 8 provided an update, saying it has filed a statement of claim in Ontario Superior Court that asks for monetary compensation along with enforcing certain provisions in the power purchase agreement with Validus.

It isn’t known whether a statement of defence has been filed.

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