21 Mar 2018
Page 1
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Newspaper
Medicine Hat News
Location
Medicine Hat, Alberta, Canada
Date
Mar 21, 2018
Page
1
Sean Clark interim CEO says Hut 8 Mining Corp has capital chips and electricity from Medicine Hat to build a $100 million local data processing center. He and officials briefed media to present Hut 8 as logistics support for cryptocurrency mining rather than a pure speculation play.
Alberta Finance Minister Joe Ceci says the budget will assume revenue from the Trans Mountain expansion and the Enbridge Line 3 replacement to Wisconsin. He notes completion is assumed for budgeting, with figures adjustable as plans develop amid delays and interprovincial disputes.
Kenney warned of further delays while Ceci announced a pre budget plan at a downtown tech startup creating virtual simulations for homes and worksites. Ceci appeared with a computer avatar in shifting loafers beside a budget day screen. Interim Hut 8 CEO Sean Clark outlined a $100 million data centre project alongside communications officer Natalie Davidson.
City officials and utilities say a Hut 8 Mining contract to buy up to 42 megawatts for a data processing centre will not increase residential rates or affect how prices are set. The deal makes Hut 8 the city's largest customer, five times larger than next biggest, but officials say demand does not drive local pricing and there is enough power for all customers.
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