Canada-based crypto mining company Hut 8 Mining has announced it has successfully completed its merger with US Bitcoin, resulting in the creation of a combined company called Hut 8 Corp (New Hut).
According to the announcement:
"We are now officially operating as a US-domiciled entity, Hut 8 Corp. with 825 MW of energy under management across 11 sites with self-mining, hosting, managed services, and high performance computing."
Upon completion of the agreement, Hut 8 shares will cease trading on the Toronto Stock Exchange and Nasdaq no later than today and will be replaced by New Hut securities under the ticker symbol HUT.
Asher Genoot, president of the company, has said:
"New Hut is laser-focused on driving efficiency and improvement across our spectrum of operations to ensure that we are well positioned and uniquely nimble as we approach the halving and beyond."
Although the British Columbia Supreme Court granted Hut 8 final approval to merge with US Bitcoin in September, the planning process began in February.