Canada-headquartered Hut 8 Mining Corp. plans to merge with US Bitcoin Corp. in an all-stock deal to create a mining giant in North America, the company announced on Tuesday.
The Boards of Directors of both companies have approved a definitive business combination agreement. The board has decided that the combined company will be a U.S.-based entity named Hut 8 Corp.
Hut 8 and US Bitcoin Merger
According to a press release on February 7, Hut 8 Mining Corp., a Canada-based Nasdaq-listed crypto mining company will merge with US Bitcoin Corp.
Jaime Leverton, CEO of Hut 8, said:
“Our established track record of creating shareholder value through organic growth and strategic acquisitions while maintaining a balance sheet-first approach has positioned us perfectly to advance our growth trajectory through this business combination.”
The new combined company will be listed on both Toronto Stock Exchange and Nasdaq after the completion of the deal. Hut 8 Corp. will focus on economical mining, highly diversified revenue streams, and industry-leading best practices in ESG.
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