Hut 8 is expected to complete its merger with US Bitcoin Corp this week. The move is expected to usher in a new phase of increased geographic diversity and revenue streams for the company.
The deal, which executives described as a "merger of equals," was first announced in February. USBTC shareholders voted in favor of the combination last week, the company said - a critical step in completing the deal, which is expected to close on November 30.
Hut 8 Mining CEO Jaime Leverton noted during the company's earnings call earlier this month that USBTC's U.S. operations - including campuses in New York, Nebraska and Texas - will complement Hut 8's current operations. Footprints in Canada.
Dan Weiskopf, co-portfolio manager of the Amplify Transformational Data Sharing ETF (BLOK), called the combination between Hut 8 and US Bitcoin Corp a “step forward,” noting that the combined company would be based in the United States.