Hut 8 receives greenlight from Canadian Supreme Court for USBTC merger
The Supreme Court of British Columbia has given Hut 8 final clearance to complete proposed merger with USBTC. Canadian Bitcoin mining firm Hut 8 is set to wrap up its planned merger with US Bitcoin (USBTC) following final approval from the Supreme Court of British Columbia. Hut8 and USBTC had announced the move in February 2023 which was subject to shareholder and regulatory approval. The merger will see Hut 8 and USBTC form Hut 8 Corporation, or “New Hut”, which will become a publicly traded United States-based business. An initial announcement from Hut 8 highlighted that the merger would open up 825 megawatts of capacity across six different Bitcoin mining and data center facilities. While the Supreme Court of British Columbia has issued a final order approving the merger , the closing of the deal is subject to a handful of outstanding requirements, including the approval of USBTC shareholders. Hut 8 anticipates that the final transaction confirming the merger and creation of Ne...