Mr. Speaker, I am proud to recognize both Hut 8 Mining, an industry-leading bitcoin miner, and the city of Medicine Hat, where the mine is centred. Hut 8 is a great story, from its penny stock beginnings to its all-female leadership team, very unique in the tech industry. Medicine Hat has a long history of entrepreneurial acumen and willingness to pioneer with new opportunities. As a bitcoin miner, reliable electricity is a critical consideration, which is one of the many reasons Medicine Hat was chosen as the city owns its own electric utility, from generation to distribution. This enables Hut 8 to access low-cost electricity involving a clean environmental footprint using a natural gas combustion turbine. Hut 8's operations in Medicine Hat provide highly skilled jobs, with 80% of its team based locally. As a sustainable leader in bitcoin mining, Hut 8 contributes excellent value to the local community and the economy.
It is important that Canada harness innovation and value behind emerging technology such as blockchain and foster a regulatory and commercial environment that promotes companies such as Hut 8 within Canada and abroad.