Subscribe
Be the first with the news that moves the market- Hut 8 Mining (HUT) has received no objections from the Competition Bureau of Canada regarding its potential merger with US Bitcoin
- US Bitcoin is an eco-friendly North American Bitcoin mining company with operations in three states
- Hut 8 management views the transaction as a “merger of equals”
- Hut 8 is one of North America’s largest digital asset miners
- Hut 8 Mining (HUT) is down by 2.85 per cent, trading at $1.70 per share
The Competition Bureau of Canada has approved Hut 8’s (HUT) merger with US Bitcoin.
A no-action letter from the Bureau confirms it does not intend to challenge the transaction before the Competition Tribunal under the merger provisions of the Competition Act.
US Bitcoin is an eco-friendly and large-scale North American Bitcoin mining company. Its campuses in New York, Nebraska and Texas operate hundreds of megawatts of Bitcoin mining infrastructure both independently and for clients.
Hut 8 management describes the transaction as an all-stock “merger of equals”.
The merger remains subject to the remaining regulatory approvals, shareholder approval, court approval, and other customary closing conditions.
“We appreciate the Competition Bureau’s professionalism throughout its review process,” stated Jaime Leverton, CEO of Hut 8.
Hut 8 is one of North America’s largest digital asset miners. Its main focuses include Bitcoin, blockchain, Web 3.0 and high-performance computing.
Hut 8 Mining (HUT) is down by 2.85 per cent, trading at $1.70 per share as of 9:45 am EST.
