With Bitcoin prices still suppressed, miners Hut 8 and US Bitcoin have decided to merge in a US$900 million all\u002Dstock deal. Read on.
Play Video
The combined company will have a market capitalization of about US$990 million, according to a statement on Tuesday. It will have “access to” roughly 825 megawatts of “gross energy” across six sites. US Data Mining Group Inc. is the legal name of US Bitcoin Corp. Shares of Hut 8 fell as much as 11 per cent after the announcement.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canada’s Hut 8 Mining to merge with US Bitcoin in bid to weather crypto downturnThe companies said the combined entity will have a market capitalization of around $990-million, and be equally owned by shareholders of both the companies
Read more »
Hut 8 Mining’s merger with US Bitcoin brings revenue diversification: CEO - BNN BloombergThe newly announced merger of US Bitcoin and Hut 8 Mining Corp will provide diversified revenue and help the combined business scale, according to the chief executive of the Toronto-based crypto mining company.
Read more »
Bitcoin Feb. 7 daily chart alert - Price uptrend stalls
Read more »
Bitcoin Feb. 8 daily chart alert - Price grinds sideways; bulls still have the edge
Read more »
Bitcoin: Evaluating if it’s the right time to enter the BTC marketThe count of mini BTC addresses has shot up in the last month. Price chart reading showed that buying pressure has weakened over time. Since Bitcoin’s [BTC] price regained the $20,000 mark, the count of BTC addresses that hold 0.1 BTC increased, data from Santiment revealed. According to the on-chain data provider, since reclaiming the […]
Read more »
Bitcoin struggles to hold $23k as global markets fall under pressureBitcoin price struggles to hold support at $23,000 as worsening economic conditions and concerns about further rate hikes from the Fed take a toll on global asset prices.
Read more »