TechFlow reports, according to Cryptoslate, bitcoin miner Hut 8 Mining has completed its merger with U.S.-based mining company US Bitcoin Corp (USBTC) and is now rebranding as a U.S. entity named Hut 8 Corp (New Hut). As stated in a press release dated November 30, the company stated: "Now operating as a U.S.-domiciled entity, Hut 8 Corp. manages 825 megawatts of energy across 11 sites, with capabilities in self-mining, hosting, colocation services, and high-performance computing."
The announcement added that shares of the newly formed company will begin trading on December 4 on both Nasdaq and the Toronto Stock Exchange (TSX) under the ticker symbol "HUT." Under the merger terms, the exchange ratio for New Hut shares to Hut 8 shares is 5 to 1. Shareholders of Hut 8 will receive 0.2 shares of New Hut common stock for each share of Hut 8 held. Likewise, USBTC shareholders will receive 0.6716 shares of New Hut common stock per share.
