Don't know if we should be concerned about what appears to be mold spots on the soil as we transplant this Dwarf Alberta Spruce to a larger pot?
It's hard to tell without more magnification, but the white could be hyphae from a beneficial mycelium.
Agree with @vitog - looks fungal. Many possibilities, as most fungi (and some organisms similar to fungi) look like this. Can't tell from a distance if e.g. mold or mycelia.