Bitcoin mining company Hut 8 will merge with US Bitcoin Corp to form a new company, New Hut

2023-06-17 00:28:38

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ChainCatcher news, Bitcoin mining company Hut 8 will merge with American mining company and high-performance computing infrastructure provider US Bitcoin Corp (USBTC) in an all-stock equal merger. The merged company will be named Hut 8 Corp. (New Hut) and will become a registered entity in the United States.

This transaction is expected to make New Hut a large-scale publicly traded Bitcoin mining company, focusing on economical mining with highly diversified revenue sources. New Hut has submitted further amendments to its S-4 registration statement to the U.S. Securities and Exchange Commission (SEC). The statement reveals that New Hut's pre-mining hash rate at its mining facilities in Medicine Hat and Drumheller, Alberta, has increased from the previously disclosed 7.02 EH/s to 7.5 EH/s. (Source link)

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