US Bitcoin Corp Stockholders Approve Transformational Business Combination With Hut 8
Portfolio Pulse from Benzinga Newsdesk
US Bitcoin Corp (USBTC) stockholders have approved a business combination with Hut 8 Mining Corp. (NASDAQ:HUT). The merger, expected to close by November 30, 2023, will create a new entity, Hut 8 Corp. ('New Hut'), to be listed on Nasdaq and the Toronto Stock Exchange under the ticker 'HUT'. The combined company will focus on economical mining, diversified revenue streams, and ESG practices, expanding into high performance computing, hosting, and managed infrastructure operations.
November 21, 2023 | 2:23 pm
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Hut 8 Mining Corp. (HUT) is set to merge with US Bitcoin Corp, with the transaction expected to close by November 30, 2023. The combined entity will be listed under the ticker 'HUT' and will focus on diversified digital asset mining and ESG practices.
The approval of the merger by USBTC stockholders is a positive development for Hut 8 Mining Corp. (HUT), indicating progress towards the completion of the merger. The merger is expected to enhance the company's capabilities and market position, which is likely to be viewed favorably by investors. The focus on ESG practices may also attract socially responsible investors, potentially driving the stock price up in the short term.
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