City of Medicine Hat sells land to Hut 8 Mining Corp. for $600K
Medicine Hat city council has approved the sale of two plots of land to cryptocurrency firm Hut 8 Mining Corp. for a total of $600,000.
Hut 8 has been leasing the land from the city since it was launched in 2018, starting with one 10.96-acre site.
At the time, typical off‐site levies were deferred with the development permit and subdivision of the parcel, on the basis the land wasn’t connected to levy-appropriate infrastructure, staff wrote in a report to council on Monday.
In September 2018, the city entered into a further agreement with Hut 8 for the option to lease the adjacent 10.96‐acre site.