Hut 8 Mining is in the process of merging with US Bitcoin Corp, with the deal expected to be finalized by the end of September. The merger aims to increase Hut 8’s mining capacity and diversify its revenue streams. The combined company will be called Hut 8 Corp. and plans to list its shares on the Nasdaq and Toronto Stock Exchange. The merger is subject to stockholder approval and a final order from the Supreme Court of British Columbia. The merger would make Hut 8 one of the largest mining companies, with multiple mining sites across Canada and the US. Hut 8’s installed hashrate was 2.6 exahash per second (EH/s) as of June 30, while US Bitcoin Corp operates hundreds of megawatts of bitcoin mining infrastructure. The merger also allows Hut 8 to expand its energy sources and revenue lines.
AI Sentiment: Neutral
