{"id":17427,"date":"2023-02-09T01:45:21","date_gmt":"2023-02-09T01:45:21","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/hut-8-just-announced-a-merger-with-us-bitcoin\/"},"modified":"2023-02-09T01:45:21","modified_gmt":"2023-02-09T01:45:21","slug":"hut-8-just-announced-a-merger-with-us-bitcoin","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/hut-8-just-announced-a-merger-with-us-bitcoin\/","title":{"rendered":"Hut 8 just announced a merger with US Bitcoin"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/02\/vasilis-chatzopoulos-hJobgJajpeE-unsplash-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/02\/vasilis-chatzopoulos-hJobgJajpeE-unsplash-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/02\/vasilis-chatzopoulos-hJobgJajpeE-unsplash-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/02\/vasilis-chatzopoulos-hJobgJajpeE-unsplash-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Hut 8 to merge with US Bitcoin to diversify revenue streams.<\/li>\n<li>Mining potential of the combined company will be 5.6 EH\/s.<\/li>\n<li>Hut 8 Mining Corp stock ended slightly down on Wednesday.<\/li>\n<\/ul>\n<p>Hut 8 Mining Corp ended slightly in the red on Wednesday after revealing plans to merge with US Bitcoin Corp.<\/p>\n<h2>What\u2019s in it for the two companies?<\/h2>\n<p>The said merger is expected to help diversify revenue streams and lower costs related to mining. It will create a larger publicly listed company that will operate under the name Hut 8 Corp.<\/p>\n<p>Both companies have already secured unanimous approval for the agreement from their respective boards. In the <a href=\"https:\/\/www.prnewswire.com\/news-releases\/hut-8-and-us-bitcoin-announce-merger-of-equals-to-create-a-preeminent-digital-asset-mining-hosting-managed-infrastructure-operations-and-high-performance-computing-organization-301740441.html\" target=\"_blank\" rel=\"noopener\">press release<\/a>, Jaime Leverton, who will continue to lead the joint company said:<\/p>\n<blockquote>\n<p>Bringing together Hut 8 and US Bitcoin accelerates our diversified strategy, positions us for near-term growth, and establishes us as a strong player that\u2019s ready and able to seize additional opportunities as they rise.<\/p>\n<\/blockquote>\n<p>For the year, the Canadian digital asset mining company is currently up more than 150%.<\/p>\n<h2>Hut 8 to see a boost to mining potential<\/h2>\n<p>Bill Tai will also keep his role as Chairman of the Board while Asher Ganoot will remain the President of the combined firm. The <a href=\"https:\/\/www.prnewswire.com\/news-releases\/hut-8-and-us-bitcoin-announce-merger-of-equals-to-create-a-preeminent-digital-asset-mining-hosting-managed-infrastructure-operations-and-high-performance-computing-organization-301740441.html\" target=\"_blank\" rel=\"noopener\">press release<\/a> named Michael Ho its Chief Strategy Officer and Shenif Visram its CFO.<\/p>\n<p>The new Hut 8 Corp will manage in total 680 MW of infrastructure operations and note an increase in mining potential to 5.6 EH\/s. According to Michael Ho \u2013 the co-Founder of US Bitcoin:<\/p>\n<blockquote>\n<p>We\u2019ve been searching for the right partner to join us on our ambitious growth journey for some time and are confident that Hut 8 is the perfect fit.<\/p>\n<\/blockquote>\n<p>Last year, Hut 8 <a href=\"https:\/\/www.prnewswire.com\/news-releases\/hut-8-mining-production-and-operations-update-for-december-2022-301715151.html\" target=\"_blank\" rel=\"noopener\">mined<\/a> 3,568 bitcoin that increased its reserve to 9,086 BTC \u2013 up 65% year-on-year. Wall Street currently has a consensus \u201coverweight\u201d rating on this Toronto-headquartered firm.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/hut-8-announced-merger-with-us-bitcoin\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Hut 8 to merge with US Bitcoin to diversify revenue streams. Mining potential of the combined company will be 5.6 EH\/s. Hut 8 Mining Corp stock ended slightly down on Wednesday. Hut 8 Mining Corp ended slightly in the red on Wednesday after [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":17428,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/17427"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/30"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=17427"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/17427\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/17428"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=17427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=17427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=17427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}