Hut 8 Mining Shares Rise After Receiving Final Regulatory Approval to Merge with USBTC

By Adriano Marchese

Hut 8 Mining shares jumped in early trading Monday after the company said that it has received the final court approval in British Columbia required to complete its merger with U.S. Data Mining Group.

At 9:55 a.m. ET, shares trading in Toronto were up 6% at 3.01 Canadian dollars ($2.22).

The Canadian cryptocurrency mining and blockchain infrastructure company got the green light from the Supreme Court of British Columbia, the last approval needed to allow the transaction to go through.

With shareholder approval received last week, Hut 8 will now combine in an all-stock merger of equals with U.S. Data Mining Group, which does business as US Bitcoin Corp.

The combination is expected to establish a strengthened, dynamic business backed by both bitcoin and fiat revenues generated across its operations in North America.

Write to Adriano Marchese at [e-mail]

(END) Dow Jones Newswires

09-18-23 1014ET