Today, U.S. Data Mining Group, Inc. d/b/a US Bitcoin Corp (USBTC) is thrilled to announce that its stockholders have overwhelmingly voted in favor of the proposed business combination (the “Transaction”) with Hut 8 Mining Corp. (“Hut 8”), one of North America’s largest and innovative digital asset mining pioneers. This decision follows the recent approval by Hut 8’s shareholders as announced on Sept. 13, 2023.
“I’m incredibly proud of what we’ve accomplished at US Bitcoin Corp. and equally excited about our future with Hut 8,” says Asher Genoot, President of US Bitcoin Corp. “Our shareholders have seen the immense value and potential in this merger of equals, and their overwhelming support is testament to this. We are eager to build upon our shared vision for economical mining, highly diversified revenue streams, and industry-leading environmental, social, and governance (ESG) practices.”
“Our shareholders have seen the immense value and potential in this merger of equals, and their overwhelming support is testament to this. We are eager to build upon our shared vision for economical mining, highly diversified revenue streams, and industry-leading environmental, social, and governance (ESG) practices.”
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The Transaction is expected to close by November 30, 2023, subject to customary closing conditions. Upon the closing of the Transaction, the common stock of the combined company, Hut 8 Corp. (“New Hut”), is expected to be listed on Nasdaq and the Toronto Stock Exchange under the proposed ticker symbol “HUT”.
The Transaction will further allow the newly formed entity to expand its focus on high performance computing, hosting, and managed infrastructure operations, including the maintenance and management of third-party mining sites using purpose-built software.
“Today’s vote marks a significant step towards realizing our shared ambition of creating a sustainable, diversified, and globally recognized digital asset mining leader,” Genoot added. “We are committed to delivering superior value for our shareholders, customers, and the broader digital asset community.”
The final steps to complete the Transaction are currently underway, marking the start of a new chapter for both entities.
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