SEC Gives Approval for Hut 8 Merger with US Bitcoin

Hut 8 Mining has recently provided an update on its merger process with a US-based Bitcoin mining company, USBTC.

According to a press release, the Securities and Exchange Commission (SEC) has approved the deal.

The merged company, known as Hut 8 Corp (New Hut), will be headquartered in the US and will have a hashrate of 5.6 EH/s and access to 825 MW of power from six different sites.

This merger was first announced back in February. In compliance with regulations, Hut 8 Mining has filed a registration statement on Form S-4 with the SEC.

CEO of Hut 8 Mining, Jaime Leverton, stated that with the SEC’s declaration of New Hut’s registration statement as effective, the company has taken a significant step towards closing the transaction. The final stage involves obtaining approval from USBTC shareholders.

New Hut’s shares will be traded on Nasdaq and the Toronto Stock Exchange under the ticker symbol HUT.