Canadian Bitcoin mining firm Hut 8’s merger with US-based USBTC has been approved by the court, clearing the way for the creation of a new publicly listed company called “New Hut”. The new entity will operate six Bitcoin mining and data center facilities with a total capacity of 825 megawatts. However, the merger is not yet finalized as additional requirements, such as the consent of USBTC shareholders, need to be completed. Hut 8 is confident that the deal will be concluded by the end of 2023. Hut 8 has also established a partnership with Foundry Digital, a division of the Digital Currency Group, to power joint venture products and services at its data center in Ontario.
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