Today, U.S. Data Mining Group, Inc. d/b/a US Bitcoin Corp (USBTC) announces two significant developments: the progression of its merger with Hut 8 Mining Corp (“Hut 8”) and court approval of the Celsius restructuring plan.
USBTC is moving forward with its all-stock merger (the “Transaction”) with Hut 8, an esteemed North American digital asset mining pioneer and high-performance computing infrastructure provider after the SEC declared the registration statement related to the merger effective on November 9. “Joining forces with Hut 8 marks a new phase of growth for our shared company. This merger shows our ongoing dedication to operational excellence and provides a strengthened platform for our shared future,” stated Asher Genoot, President and Co-Founder of USBTC.
The merger is expected to close by November 30, 2023, subject to approval from USBTC stockholders and other customary closing conditions. Upon the closing of the Transaction, the common stock of combined company, Hut 8 Corp. (“New Hut”), is expected to be listed on the Nasdaq and the Toronto Stock Exchange under the proposed ticker symbol HUT.
