The Supreme Court of British Columbia has given consent to the proposed merger between Hut 8 Mining Corp. (TSX: HUT) (NASDAQ: HUT) and Miami-based data mining analytics company US Bitcoin Corp (USBTC), taking the process one step closer to completion.
The transaction’s completion depends on several conditions, including the registration statement of USBTC becoming active, approval from USBTC’s shareholders, and other typical closing requirements for such deals, according to a statement made on Tuesday.
If all these conditions are met or exceptions are granted the company anticipates the transaction will be finalized in Q4 of 2023. After the transaction is completed, the company plans to change its name to Hut 8 Corp and its shares will continue to be traded on the Nasdaq and Toronto Stock Exchange under the symbol HUT.
Last week, the shareholders of the Canadian bitcoin mining company gave strong support for the merger…
