News | DrumhellerMail - Page #24
Last updateTue, 21 May 2024 12am

Horner delivers balanced budget

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Nate Horner, President of Treasury Board and Minister of Finance, delivered the province a balanced budget.
The Drumheller-Stettler MLA presented the budget on Thursday afternoon, February 29. The budget forecasts a surplus of $367 Million. That said, revenues are projected to be $73.5 billion which is $2.1 billion lower than earlier forecasts.
“Alberta is growing. Budget 2024 is a plan that manages the pressures faced by a growing province today while securing the future for generations who follow,” said Horner. “I’m proud of the choices we made in this budget that support Albertans’ top priorities and prepare our province to meet the challenges that lie ahead. Budget 2024 invests today and saves for tomorrow so we can continue to be the nation’s economic engine.”
Personal tax revenue is projected to be up $365 million to $15.6 billion, spurred on by population growth. Corporate taxes are projected at $7 billion, down $176 million and non-renewable resources are projected to drop from $19.4 billion to $17.3 billion.
Total expense is projected to be $73.2 billion, an increase of 3.9 percent and operating expense increases by 3.9 percent to $60.1 billion.
The budget has a contingency of $2 billion to respond to in-year expense pressures such as disasters and emergencies.
One of the largest expenses is healthcare, which is budgeted for $26.2 billion, up 4.4. percent. Education also saw an increase of 4.4 per cent.
Wildfire support is also on the increase, with the budget contributing $151 million for enhancements to the Wildfire Management Program and $55 million on capital investment for new firefighting equipment and facilities.
“Alberta’s government is well prepared for the 2024 wildfire season. We have emerging technologies that will enable us to better protect forests and communities while continuing to prioritize proactive measures that build wildfire resilience throughout the province,” said Todd Loewen, Minister of Forestry and Parks.
Water management and drought preparedness will see $1.3 billion in capital funding, over three years. This includes $251 million to better prepare for flooding events and drought. There is also $272 million for irrigation projects and $539 million for municipal water and wastewater.

Drumheller GIS arrest male and female for trafficking methamphetamine

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On March 3, 2024, Drumheller General Investigation Section (GIS) executed a search warrant at a local residence, as well as on a vehicle and a travel trailer, in Three Hills. The investigation was initiated in January of 2024. As a result of the search warrant, police seized the following:

120.06 grams of suspected methamphetamine
Canadian Currency
Paraphernalia related to drug trafficking
Brass knuckles

Justin Lenfesty (33), a resident of Three Hills, has been charged with:

Possession for the possession of trafficking methamphetamine
Possession of property obtained by crime
Fail to comply with release order X 8

Following a Judicial Interim Hearing, Lenfesty was remanded into custody and is set to appear in Alberta Court of Justice in Drumheller on March 8, 2024.

A female resident of Three Hills has been charged with:

Possession for the possession of trafficking methamphetamine
Possession of a prohibited weapon for a dangerous purpose

The female was released on an undertaking and is set to appear in Alberta Court of Justice in Drumheller on May 24, 2024.

Drumheller GIS would like to thank Three Hills RCMP, Drumheller RCMP and Southern Alberta Emergency Response Team for assisting with the investigation.

If you wish to remain anonymous you can contact Crime Stoppers by phone at 1-800-222-8477 (TIPS), by Internet at or by SMS (check your local Crime Stoppers for instructions). To report crime online, or for access to RCMP news and information, download the Alberta RCMP app through Apple or Google Play. To report crime online, or for access to RCMP news and information, download the Alberta RCMP app through Apple or Google Play.

Hut 8 closes Drumheller site, miners moving to Medicine Hat

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Hut 8 Corp. (Nasdaq | TSX: HUT) (“Hut 8” or the “Company”), one of North America’s largest Bitcoin miners and energy infrastructure operators, today announced the closure of its Drumheller site in Alberta, Canada. In line with ongoing restructuring and optimization initiatives designed to strengthen financial performance, the Company is executing several strategic measures at the site.

Effectively immediately, Drumheller will cease to operate as a Bitcoin mining site. Efficient miners will be relocated to the Medicine Hat site in Alberta, Canada, and old and inefficient miners will be retired from operations. Hut 8 will maintain its lease at the site and the option value of re-energizing the site if market conditions improve.

“Following a comprehensive analysis, we have determined that the profitability of Drumheller has been impacted significantly by various factors, including elevated energy costs and underlying voltage issues,” said Asher Genoot, CEO of Hut 8. “Our restructuring plan aims to drive maximum value from our assets and position the company for profitable growth. With the nominal lease expense, we will also have a low-cost option to re-energize the site if energy rates in the AESO grid decrease or hashprice increases.”

The site’s most efficient miners, representing approximately 130 PH/s of hashrate, will be moved to Medicine Hat and energized in March to leverage the site’s superior infrastructure and economics. Miners at Drumheller with efficiency worse than 38 J/TH will be retired from operations. The relocation of efficient miners and retirement of inefficient miners is expected to enhance Hut 8’s cash flow, reduce its cost to mine a Bitcoin, and drive a pro forma increase in Bitcoin mined per EH of approximately 11%.

As previously announced, the Board of Directors of Hut 8 determined, following the completion of the Company’s merger of equals, the time was right to set a new strategic direction for the Company and that a transition of leadership was appropriate. Following the leadership transition, Hut 8 continues to restructure and optimize operations to drive profitable growth and create lasting shareholder value.


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