Bitcoin miners Hut 8, USBTC prepares for halving with merger into new company
Summary
Hut 8 Mining Corp, a North American Bitcoin miner, has completed its merger with US Bitcoin Corp and will now operate as a US-based company called Hut 8 Corp. The company, which is now trading on the Nasdaq and Toronto Stock Exchange, says it is managing 825 MW of energy across 11 sites and offers services including self-mining, hosting, managed services, and high performance computing. Under the merger terms, New Hut shares are issued on a 5 to 1 basis compared to Hut 8 shares. Jaime Leverton, the CEO of the new company and former CEO of Hut 8, said the merger is the largest in the industry and will set the company up for growth.
