TechFlow news, Bitcoin mining company Hut 8 Mining continues to make progress regarding its proposed business combination.
Under the plan, Hut 8 will combine with US Bitcoin Corp (USBTC), a high-performance computing infrastructure provider, in an all-stock, equal merger. The combined company will be named Hut 8 Corp. (New Hut) and will be incorporated in the United States. The transaction is expected to position New Hut as a major publicly traded Bitcoin miner focused on economical mining, highly diversified revenue streams, and industry-leading environmental, social, and governance (ESG) practices.
New Hut has submitted a further amendment to its Form S-4 registration statement with the U.S. Securities and Exchange Commission (SEC).
Hut 8 CEO Jaime Leverton said: "We look forward to receiving SEC approval of New Hut's registration statement in the near future, while continuing to work toward completing this equal merger. We believe that once completed, New Hut will emerge as a stronger, dynamic business supported by significant fiat cash flows generated from Bitcoin, along with robust North American hosting, mining infrastructure, and high-performance computing operations."
Completion of the transaction remains subject to remaining regulatory approvals, shareholder approvals, court approvals, and other customary closing conditions.
