Canadian Bitcoin mining company Hut 8 has received judicial approval for its merger with USBTC. The merger will create a new entity called “New Hut,” which aims to become a dominant force in Bitcoin mining by utilizing 825 megawatts of capacity spread across six facilities. The approval of USBTC shareholders is now needed to finalize the merger and make the new entity publicly listed on the Nasdaq and Toronto Stock Exchanges. The merger has the potential to increase the mining capacity of the unified firm and Hut 8 has also realigned its operational strategies.
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