Hut 8 receives $100,000 reduction on land lease rate
MEDICINE HAT, AB — Bitcoin company Hut 8 is receiving a drastic reduction to the cost of their land lease.
City council approved the reduction during their meeting Monday.
The company has been leasing 10.94 acres of land located by Generator 16, Methanex and Canadian Fertilizers.
Until now, their lease rate has been $10,500 per month, or $126,000 per year. It has now been adjusted to $1,395 per month, or $16,740 per year.