Hut 8 Mining To Combine With U.S. Data Mining Group

(RTTNews) - Hut 8 Mining Corp. (HUT, HUT.TO) announced on Monday that it will combine with U.S. Data Mining Group, Inc. dba US Bitcoin Corp in an all-stock merger of equals. The financial aspects of the deal are not revealed.

The combined company will be named Hut 8 Corp. and will be a U.S.-domiciled entity.

North America's one of the largest innovation-focused digital asset miners said the transaction is expected to establish New Hut as a large-scale, publicly traded Bitcoin miner focused on economical mining, highly diversified revenue streams, and industry-leading environmental, social, and governance practices.

New Hut has filed a further amendment to its Form S-4 Registration Statement with the U.S. Securities and Exchange Commission.

Jaime Leverton, CEO of Hut 8 said, "We continue to make progress toward closing the transaction with USBTC and look forward to securing SEC clearance for New Hut's registration statement in the near term."

Hut 8 believes that the merger will establish a strengthened, dynamic business backed by both Bitcoin and fiat revenues generated from robust North American-wide operations.