Hut 8 Mining Corp, one of North America’s largest digital asset mining pioneers, is providing an update on its proposed business combination with US Bitcoin Corp (USBTC). The all-stock merger of equals aims to create a U.S.-domiciled entity named “Hut 8 Corp.” or “New Hut.” New Hut will become a large-scale, publicly traded Bitcoin miner with a focus on economical mining, diversified revenue streams, and industry-leading environmental, social, and governance practices.

New Hut has filed an amendment to its Form S-4 Registration Statement with the SEC, revealing an increase in expected installed self-mining capacity. The capacity has been raised from 7.02 EH/s to 7.5 EH/s across mining facilities in Alberta, Niagara Falls, Kearney, and Texas. This improvement is due to the energization of additional miners at USBTC’s sites.

The CEO of Hut 8, Jaime Leverton, expressed excitement about the progress made and emphasized the goal of creating a stronger business backed by Bitcoin and fiat revenues from robust North American operations.

The completion of the transaction is subject to regulatory approvals, shareholder approval, court approval, and other customary closing conditions.

Hut 8 is an innovation-focused digital asset miner and high-performance computing infrastructure provider. It has two operational mining sites in Southern Alberta, with a high capacity rate and a significant inventory of self-mined Bitcoin. Hut 8 aims to revolutionize the data center model by serving both traditional high-performance computing and nascent digital asset computing sectors.

Investors should be aware that this press release contains forward-looking information, which includes expectations, projections, and characterizations of future events or circumstances. Hut 8 cautions that actual results may vary materially from these statements due to known and unknown risks, uncertainties, assumptions, and other factors.

For more information about the transaction and where to find it, investors can refer to the registration statement on Form S-4 filed with the SEC. Hut 8 also encourages investors to review other relevant documents related to the transaction. This press release does not constitute an offer or solicitation to sell securities.

Overall, Hut 8’s progress in its business combination with USBTC demonstrates its commitment to becoming a leading Bitcoin miner and contributing to the evolution of the digital asset revolution.