Hut 8 Mining and US Bitcoin Corp triumph over a colossal obstacle on their path to merging!

Hut 8 Mining and US Bitcoin Corp Successfully Clear Major Hurdle for Merger

Hut 8’s Merger Approved by the SEC: A Bitcoin Bonanza!

Hey there, fellow digital asset investors! Have you heard the news? Hut 8 Mining Corp. has just received the stamp of approval from the United States Securities and Exchange Commission (SEC) for its pending merger with US Bitcoin Corp.! Cue the confetti cannons and the blockchain party!

Now, let me break it down for you. This epic merger, which was first revealed back in February 2023, is inching closer to reality. After months of meticulous consideration, Hut 8 shareholders gave the thumbs-up in August, thanks to the wise recommendations from Institutional Shareholder Services (ISS) and Glass Lewis & Co. Nice work, folks!

But wait, there’s more! As if the SEC giving their blessing wasn’t thrilling enough, Hut 8 Mining Corp. also filed a fancy registration statement (Form S-4, for the nerdy types) with the SEC. And guess what? The SEC waved their magic wand of approval on November 9. Hooray for bureaucratic efficiency!

Jaime Leverton, the CEO of Hut 8 Mining Corp., couldn’t contain her excitement, exclaiming, “We are now working to complete the final approvals prior to closing the transaction so we can move forward as a vibrant and strengthened company focused on economical mining.” Get ready, world, because Hut 8 is ready to unleash its mining might!

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But hold your horses, my dear readers! We’re not quite there yet. US Bitcoin Corp. stockholders still need to vote on the merger before we can pop the champagne and celebrate. Once the voting is done and dusted, we’re almost home free, with just a few standard closing conditions to check off our list.

And here’s the juicy detail: the new and improved company will be called “Hut 8 Corp” (or “New Hut” for short) and will set up shop in the land of opportunity, the United States. I can already picture Hut 8 Corp’s stock soaring to the moon on two iconic stock exchanges: the Nasdaq and the Toronto Stock Exchange. Look out for their proposed ticker symbol, HUT. It’s catchy, isn’t it?

But wait, there’s more excitement incoming! Brace yourselves for some jaw-dropping stats about the new company. Hut 8 Corp will not only have an increased mining capacity compared to its predecessor but will also boast a more diverse revenue stream. It’s like they’re turning up the dial on profitability while wearing a snazzy suit and tie. Impressive, don’t you think?

And hey, let’s not forget about Hut 8 Mining Corp.’s recent heroic deeds. Throughout the whole merger madness, their mining output remained steady in October. Averaging a cool 3.6 BTC per day, they flexed their mining muscles and churned out a monthly output of 112 BTC. Mama mia, that’s a lot of BTC!

But what to do with all those shiny Bitcoins, you ask? Well, they didn’t just sit there collecting digital dust. Oh no, Hut 8 sold around 365 Bitcoins for a jaw-dropping $10.5 million. That’s an average selling price of roughly $28,971 per Bitcoin. Can you hear the sound of digital cash registers ringing?

Hold on to your hats, because there’s more excitement ahead. Hut 8 Mining Corp. ain’t done yet. They recently installed an ASIC hash rate with a mind-boggling 2.6EH/s capacity in their Alberta facilities. What does that mean? It means they’ve boosted their production rate to a whopping 43.1 BTC/EH. That’s like upgrading from a bicycle to a rocket-powered skateboard!

But wait, there’s even more! Hut 8 has received the green light from the Ontario Superior Court of Justice to bid for not one, not two, but four natural gas power plants in Ontario. These babies can generate approximately 310 MW of power. It’s like acquiring four magical power plants straight out of a video game!

All these impressive moves are set to catapult the new company into the global arena, where it will fight tooth and nail to be the heavyweight champion of the blockchain world. So grab your popcorn, fasten your seatbelts, and get ready for a wild ride with Hut 8 Corp!

What do you think, savvy investors? Are you as excited as I am about this merger? Do you think Hut 8 Corp. will become a force to be reckoned with in the digital asset universe? Share your thoughts and let’s ride this Bitcoin bonanza together! 💥🚀🌙

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