Hut 8 Mining has received approval from the Supreme Court of British Columbia in Canada to merge with US Bitcoin Corp. This approval is a procedural step forward in the planned merger between the American and Canadian bitcoin miners. However, USBTC still needs to complete its registration statement with the US Securities and Exchange Commission. If all necessary documentation and filings are completed as planned, the merger is expected to close in the fourth quarter of 2023. Hut 8 executives are optimistic about the diversification strategy of joining forces with USBTC. Following the court’s approval, Hut 8’s stock rose by over 4%.
AI Sentiment: Positive