This bitcoin miner is set to buy four Canadian power plants

Fresh off a strategic combination, Hut 8 looks to further accelerate its growth by snatching up four Canadian power plants and a new bitcoin mining site.

The company’s subsidiary, BidCo, has won a bid to acquire these Ontario natural gas power plants, as well as the North Bay bitcoin mine, from Validus Power Corp, Hut 8 said Tuesday. The four plants have a total capacity of 310 megawatts (MW). 

The deal is set to close by January, pending court approval. The bid amount was not disclosed.  

Hut 8 merged with US Bitcoin Corp. as part of a deal that closed earlier this month. 

The combination gives the new-look firm greater geographic diversity and more revenue streams, industry…

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