The THD Hot Plate power attenuator is a device placed between the speaker output and the speaker cabinet. It acts like a huge master volume control and lets you turn up your amp most of or all the way while absorbing most of the power generated by the amplifier and turning this power into heat. It passes a small part of the power to the speaker.
The THD Hot Plate is designed for use strictly with vacuum tube guitar amplifiers, and each version is optimized for a specific impedance (4,8 or 16 ohms.) These inductive loads are frequency compensated, which means it will give you the best possible sound for that impedance speaker and amplifier combination.