New Hut: The Merger of Hut 8 Mining and US Bitcoin - The Future of Crypto Mining

The world of cryptocurrency mining is about to be shaken up by the merger of two industry leaders - Hut 8 Mining and US Bitcoin. The two companies have come together to form a new entity, New Hut, which will bring together Hut 8's operational excellence and diversified revenue streams with US Bitcoin's scalable mining sites, hosting business, and managed infrastructure operations.

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Once the merger is finalized, New Hut will have access to 825 megawatts across six facilities for crypto mining and other operations. With a self-mining capacity of 5.6 exahashes per second, the new company is poised for near-term growth and is ready to seize additional opportunities as they arise. The merger will position New Hut as a strong, US-based player in the crypto mining industry.

CEO Jaime Leverton explains, "This transaction has given us the opportunity to leverage the significant, unencumbered Bitcoin stack we have HODLed to date." The company plans to cover operating costs through a combination of selling the Bitcoin it mines, selling from its stack, and exploring debt options.

This exciting development is still subject to court and regulatory approval by US and Canadian authorities. With the formation of New Hut, the future of cryptocurrency mining looks bright, and we can't wait to see what this dynamic new company will achieve.

Stay tuned for updates and join us as we follow the journey of New Hut, the future of crypto mining.

Cryptocurrency Mining
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