Business
Hut 8 Shareholders Now Able to Vote on Merger of Equals with US Bitcoin Corp
Votes must be received no later than 4 p.m. ET September 8, 2023 TORONTO, Aug. 23, 2023 /PRNewswire/ - Hut 8 Mining Corp. (Nasdaq: HUT) (TSX: HUT), ("Hut 8"
About this update from Hut 8 Corp.
[{"type":"text","content":"Votes must be received no later than 4 p.m. ET September 8, 2023\nTORONTO, Aug. 23, 2023 /PRNewswire/ - Hut 8 Mining Corp. (Nasdaq: HUT) (TSX: HUT), (\"Hut 8\" or the \"Company\") one of North America's largest, innovation-focused digital asset mining pioneers and high performance computing infrastructure provider, announced today that voting on the proposed business combination with U.S. Data Mining Group, Inc. dba US Bitcoin Corp (\"USBTC\") is now open.\n\n \n \n \n \n \n \n\n \nShareholders may vote on the proposed business combination, pursuant to which Hut 8 and USBTC will combine in an all-stock merger of equals (the \"Transaction\"). The combined company will be named Hut 8 Corp. (\"New Hut\") and will be a U.S.-domiciled entity. New Hut intends to list its shares on Nasdaq and the TSX under the trading symbol \"HUT\" following the completion of the Transaction, subject to the approval of Nasdaq and the TSX. The Transaction is expected to establish New Hut as a large scale, publicly traded Bitcoin miner focused on economical mining, highly diversified revenue streams, and industry leading environmental, social, and governance (ESG) practices.\nNew Hut is expected to have:\n7.5 EH/s of installed self-mining capacity and 253 MW of total energy at six sites with current self-mining operationsThe 1.7 EH/s installed self-mining capacity at the King Mountain, Texas site is owned by the King Mountain Joint Venture in which USBTC has a 50% membership interest alongside a leading energy partner220 MW of hosting infrastructure at King Mountain, Texas (owned by the King Mountain Joint Venture)Managed infrastructure operations powered by 680 MW at Kearney, Nebraska; Granbury, Texas; and King Mountain, Texas sites 825 MW of total power under managementNew Hut's combined balance sheet is expected to provide New Hut with greater financial stability, enhance its ability to navigate market cycles and increase its ability to expand and invest in new opportunities.\nShareholder Voting InstructionsAll shareholders of record have been sent their confidential control number by mail. Any shareholders who have not received their control number should contact our proxy solicitation agents, Alliance Advisors, at 1-888-511-2641 toll free in North America or by email at [email protected].\nShareholders can vote in the following ways:\nOnlin...