Hut 8 has agreed to pay $2.35 million to settle a securities class action lawsuit tied to its 2023 merger with U.S. Bitcoin Corp. The suit alleged disclosure failures related to the merger.
The settlement resolves claims from investors who argued they weren’t given adequate information about the deal. Neither side admitted wrongdoing as part of the agreement.
Hut 8, primarily known as a Bitcoin miner, merged with U.S. Bitcoin Corp in late 2023 in a deal that combined mining operations. The combined entity has since been navigating a competitive mining landscape with rising energy costs and post-halving economics.
It’s a relatively modest settlement by crypto industry standards, but it closes a legal chapter that’s been hanging over the company for nearly three years.
