Merge between Hut 8, USBTC expected to close this week

Hut 8 is on track to complete its merger with US Bitcoin Corp this week.

This development is expected to initiate a new phase of geographic diversity and increased revenue streams for the company.

Labeled by executives as a “merger of equals,” the deal was first announced in February. USBTC stockholders voted in favor of the combination, the companies said last week — a key step to finalizing a deal expected to close by Nov. 30.

Hut 8 Mining CEO Jaime Leverton noted during the company’s earnings call earlier this month that USBTC’s US operations — featuring campuses in New York, Nebraska and Texas — are set to complement Hut 8’s current Canadian footprint.

Dan Weiskopf,…

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