TransAlta Corporation (TSX:TA) entered into a definitive share purchase agreement to acquire Far North Power Corp. from Hut 8 Corp. (NasdaqGS:HUT) and Macquarie Equipment Finance Designated Activity Company for CAD 95 million on November 17, 2025. A cash consideration of CAD 95 million will be paid by TransAlta Corporation. The transaction is subject to working capital and other adjustments. The Company will finance the transaction using cash on hand and draws on its credit facilities.

The transaction is subject to customary closing conditions, including receipt of regulatory approvals. The transaction is expected to close by early first quarter of 2026.

CIBC Capital Markets, Research Division acted as financial advisor for Hut 8 Corp. Bennett Jones LLP acted as legal advisor for Hut 8 Corp.