Major Bitcoin miners Hut 8 Mining and U.S. Bitcoin Corp today announced a merger which will bring the two companies together to create a North America crypto mining giant.
Tuesday’s announcement said the move will create Toronto Stock Exchange- and Nasdaq-listed Hut 8 Corp after the all-stock deal.
The new entity will have a market capitalization of $990 million, and shareholders will have equal ownership of the company’s stock.
CEO of Toronto-based Hut 8 Jaime Leverton said in a press release that the move would allow the company to “leverage the significant, unencumbered Bitcoin stack we have HODLed to date.”
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