ChainCatcher news, Hut 8 Mining and Eric Trump, the son of former President Donald Trump, announced the establishment of American Bitcoin, aimed at setting new standards for Bitcoin mining.

ChainCatcher news, Bitcoin mining company Hut 8 has signed a temporary agreement with Celsius to build a mining facility and deploy mining machines in Cedarvale, Texas, USA. Hut 8 will construct a facility capable of housing 66,000 mining machines with a power capacity of 215 megawatts.Hut 8 President Asher Genoot stated, "We believe that Hut 8's hosting service business strength is currently at 680 megawatts, and our track record in rapidly establishing mining infrastructure as well as efficiently operating and optimizing operations is a key factor in being selected as a partner for this project."

ChainCatcher news, Bitcoin mining companies Hut 8 Mining Corp. and US Bitcoin Corp (USBTC) have completed a merger through an all-stock equal merger, establishing a new entity registered in the United States, named Hut 8 Corp (New Hut).After the merger, Hut 8 common shares will be delisted from the Toronto Stock Exchange and NASDAQ on or before December 4. New Hut common shares will replace them, with the stock code "HUT". During the delisting and relisting process, Hut 8 shareholders will receive 0.2 shares of New Hut common stock for each share of Hut 8 common stock they hold. USBTC shareholders will receive 0.6716 shares of New Hut common stock for each share of USBTC equity they hold.

ChainCatcher news, Bitcoin mining company Hut 8 Mining Corp. mined 111 Bitcoins in September 2023 and did not sell any Bitcoins that month. As of September 30, Hut 8's total Bitcoin reserve balance is 9,366, of which 7,269 are unallocated.

ChainCatcher news, Hut 8 Mining and USBTC merger has been approved by the Supreme Court of British Columbia. Hut 8 and USBTC will merge through an all-stock equal merger, and the merged company will be named Hut 8 Corp. ("New Hut") and will become a registered entity in the United States.Hut 8 expects the transaction to be finalized in the fourth quarter, after which the new company plans to list on NASDAQ and the Toronto Stock Exchange, pending approval.

ChainCatcher news, Bitcoin mining company Hut 8 Mining announced its second-quarter financial report for the period ending June 30, 2023. In the second quarter, Hut 8 Mining's revenue decreased by 56.2% year-on-year to 19.2 million Canadian dollars, with a total of 399 bitcoins produced, a year-on-year decrease of 58%. Additionally, the company sold a total of 396 bitcoins in the second quarter, generating a revenue of 14.7 million dollars.

ChainCatcher news, the cryptocurrency mining company Hut 8 Mining Corp. today announced that it has entered into a $50 million credit arrangement with its subsidiary Hut 8 Holdings Inc. and Coinbase Credit, Inc. (the lender). The proceeds from the loan will be used for general corporate purposes.The credit arrangement provides for a $15 million term loan, which is expected to be funded at or shortly after the completion of the transaction. The arrangement also offers an option for an additional $20 million delayed draw term loan to be drawn in a second borrowing within one to two months after the transaction closes, as well as an option for an additional $15 million delayed draw term loan to be drawn in a third borrowing within 15 business days after the completion of the previously announced merger between Hut 8 and U.S. Data Mining Group, Inc. In each case, a specified loan-to-value ratio must be maintained.The credit facility matures 364 days after the date of the first borrowing. Obligations under the credit facility are secured by certain Bitcoin interests held by the borrower in custody with Coinbase Custody Trust Company, LLC. (source link)

ChainCatcher news, U.S. stock blockchain concept stocks are rising before the market, Hut 8 Mining is up over 6% pre-market, Riot Platforms and Marathon Digital are up over 4%, MicroStrategy is up over 3%, and Coinbase and Bit Digital are up over 2%. (Jin10)