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Bitcoin Miner Hut 8 Talks Operational Issues and USBTC Merger in Earnings Call

Operational issues across its bitcoin mining sites are weighing on Hut 8 Mining (HUT) as it tries to complete what would be one of the largest deals in the sector – the company's merger with U.S. Bitcoin Corp.

In mid-November, Hut 8 stopped mining with 7,000 rigs at a site in North Bay, Ontario due to ongoing litigation with its energy provider, Validus Power. Hut 8 has now removed all machines from the facility to a site in Medicine Hat, Alberta. Pressed about progress by analysts on the company's earnings call Thursday morning, Hut 8 CEO Jaime Leverton said the firm is assessing opportunities to energize the miners but didn't give any concrete alternatives.

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