{"id":84636,"date":"2023-09-18T15:28:01","date_gmt":"2023-09-18T12:28:01","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=84636"},"modified":"2025-09-12T18:36:06","modified_gmt":"2025-09-12T15:36:06","slug":"hut-8-secures-final-court-approval-to-merge-with-us-bitcoin","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/hut-8-secures-final-court-approval-to-merge-with-us-bitcoin\/","title":{"rendered":"Hut 8 secures final court approval to merge with US Bitcoin"},"content":{"rendered":"<p>The Supreme Court of <span data-descr=\"the Canadian province\" class=\"old_tooltip\">British Columbia<\/span> granted Hut 8 Mining the final order necessary for the merger with the mining company US Bitcoin (USBTC). This is stated in the <a href=\"https:\/\/www.prnewswire.com\/news-releases\/hut-8-provides-update-on-business-combination-with-usbtc-obtains-final-order-for-plan-of-arrangement-from-the-supreme-court-of-british-columbia-301929648.html\">\u043f\u0440\u0435\u0441\u0441-\u0440\u0435\u043b\u0438\u0437\u0435<\/a>.<\/p>\n<p>In March, the firm <a href=\"https:\/\/forklog.com\/en\/news\/canadian-regulator-approves-hut-8-and-us-bitcoin-merger\">received approval<\/a> from the Canadian Competition Bureau.<\/p>\n<p>Under the terms of the agreement, the miners will merge through a stock merger. The new entity, named Hut 8 Corp, will be based in the United States and will own a hash rate of 5.6 EH\/s with access to 825 MW of capacity across six sites. The company <a href=\"https:\/\/forklog.com\/en\/news\/hut-8-and-us-bitcoin-to-merge-into-new-hut-8-corp\">announced<\/a> these plans in February.<\/p>\n<p>The closing of the deal is contingent on &#8216;certain conditions, including the effectiveness of the USBTC registration statement, shareholder approvals and other factors&#8217;, Hut 8 representatives said.<\/p>\n<p>The merger is expected to close in the fourth quarter of 2023. New Hut intends to list shares on Nasdaq and the Toronto Stock Exchange under the ticker HUT.<\/p>\n<p>Earlier, under the deal, Hut 8 agreed to provide the partner with a <a href=\"https:\/\/forklog.com\/en\/news\/coinbase-extends-50m-credit-line-to-hut-8\">credit line of $50 million<\/a> secured by bitcoins. Leverton said at the time that the funds would provide additional financial flexibility during the <a href=\"https:\/\/forklog.com\/en\/news\/what-is-the-bitcoin-halving\">halving<\/a> of the first cryptocurrency.<\/p>\n<p>In July, the miner <a href=\"https:\/\/forklog.com\/en\/news\/hut-8-mining-reports-growth-in-the-high-performance-computing-sector\">announced<\/a> new contracts for providing services in the field of high-performance computing, including the artificial intelligence industry.<\/p>\n<p>Earlier ForkLog <a href=\"https:\/\/forklog.com\/en\/news\/riot-platforms-trims-august-mining-as-bitfarms-mines-383-btc\">published<\/a> a piece with the key metrics of mining companies for August.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Supreme Court of British Columbia granted Hut 8 Mining the final order necessary for the merger with the mining company US Bitcoin (USBTC).<\/p>\n","protected":false},"author":1,"featured_media":84637,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,1136,1235],"class_list":["post-84636","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-hut-8","tag-mergers-and-acquisitions"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/84636","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=84636"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/84636\/revisions"}],"predecessor-version":[{"id":84638,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/84636\/revisions\/84638"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/84637"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=84636"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=84636"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=84636"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}