The companies said the combined entity will have a market capitalization of around $990 million, and be equally owned by shareholders of both the companies. The merged entity, to be called Hut 8 Corp, will be listed on both the Toronto Stock Exchange and the Nasdaq after the all-stock deal. In December, Binance.US said it will acquire assets of bankrupt crypto lender Voyager Digital in a deal valued at roughly $1 billion. (Reporting by Mehnaz Yasmin and Niket Nishant in Bengaluru; Editing by Sohini Goswami and Shinjini Ganguli)
(Adds details on ownership of combined company)
Feb 7 (Reuters) - Canada's Hut 8 Mining Corp will merge with rival US Bitcoin Corp to create a crypto mining
giant in North America, consolidating after a steep fall in
valuations for the crypto sector that saw high-profile collapses
in recent months.
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