Hut 8's USBTC Merger Approved by Canadian Supreme Court

The Supreme Court of British Columbia has granted final approval for Canadian Bitcoin mining firm Hut 8 to proceed with its planned merger with US Bitcoin (USBTC). The merger will result in the formation of Hut 8 Corporation, or "New Hut," a publicly traded US-based business. The deal is subject to the approval of USBTC shareholders and other outstanding requirements. Hut 8 expects the merger to be completed by the end of 2023, with plans to list shares on the Nasdaq and Toronto stock exchanges. Hut 8 recently relocated mining rigs from an inactive facility in Ontario to Texas due to a legal dispute.