Hut 8 to pay $2.35 million to settle USBTC merger investor suit

cryptonews

06/23

Hut 8 has agreed to pay $2.35 million to settle a securities class action tied to its 2023 all-stock merger with U.S. Bitcoin Corp. Summary Hut 8 agreed to a $2.35 million settlement while ...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHut 8 to pay $2.35 million to settle USBTC merger investor suit\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">cryptonews</strong><span class=\"h-time small\">2026-06-23 19:01</span>\n</p>\n</h4>\n</header>\n<article>\n<div>\n<p>Hut 8 has agreed to pay $2.35 million to settle a securities class action tied to its 2023 all-stock merger with U.S. Bitcoin Corp. \n\n\nSummary\n\n\n\nHut 8 agreed to a $2.35 million settlement while ...</p>\n\n<a href=\"https://crypto.news/hut-8-to-pay-2-35-million-to-settle-usbtc-merger-investor-suit/\">网页链接</a>\n\n</div>\n\n<div class=\"bt-text\">\n\n\n<p> 來源：<a href=\"https://crypto.news/hut-8-to-pay-2-35-million-to-settle-usbtc-merger-investor-suit/\">cryptonews</a></p>\n<p>為提升您的閱讀體驗，我們對本頁面進行了排版優化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"HUTG","symbol_name":"Leverage Shares 2X Long HUT Daily ETF","start_time":0,"source_url":"https://crypto.news/hut-8-to-pay-2-35-million-to-settle-usbtc-merger-investor-suit/","article_id":"2645883871","we_media_id":null,"thumbnails":[],"rights":{"source":"crypto_news_highlight","url":"https://crypto.news/hut-8-to-pay-2-35-million-to-settle-usbtc-merger-investor-suit/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2645883871","pubTimestamp":1782212480,"columns":[],"sourceInfo":{"source_id":"crypto_news_highlight","name":"Crypto News"},"weMediaInfo":null,"summary":"Hut 8 has agreed to pay $2.35 million to settle a securities class action tied to its 2023 all-stock merger with U.S. Bitcoin Corp.Hut 8 agreed to a $2.35 million settlement while denying liability in merger-related investor litigation.Investors alleged USBTC’s King Mountain site had energy and internet issues before the 2023 merger.crypto.news reports Bitcoin miners are moving toward AI and HPC as mining margins tighten industrywide.The proposed settlement was filed in the U.S. District Court for the Southern District of New York and still needs court approval.The case covered investors who bought or acquired Hut 8 securities during the class period linked to the merger. Plaintiffs alleged that Hut 8 and related defendants misled investors about USBTC’s operations and the value of assets brought into the combined company.HUT 8 AGREES TO PAY $2.35M TO SETTLE INVESTOR CLAIMS OVER 2023 USBTC MERGER $HUT— Blockchain Daily News  June 23, 2026. crypto.news recently reported that Hut 8 signe","collect":0,"end_time":0,"defaultTopTitle":"crypto.news","property":[],"viewcount":null,"language":"en","relate_stocks":{"HUTG":"Leverage Shares 2X Long HUT Daily ETF","BK4600":"加密货币概念","BK4023":"应用软件","BK4595":"比特币概念","HUT":"Hut 8 Mining Corp"},"translate_title":"Hut 8将支付235万美元和解USBTC合并投资者诉讼","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"HUTG":0.6,"HUT":1.97},"content_text":"Hut 8 has agreed to pay $2.35 million to settle a securities class action tied to its 2023 all-stock merger with U.S. Bitcoin Corp. \n\n\nSummary\n\n\n\nHut 8 agreed to a $2.35 million settlement while denying liability in merger-related investor litigation.\nInvestors alleged USBTC’s King Mountain site had energy and internet issues before the 2023 merger.\ncrypto.news reports Bitcoin miners are moving toward AI and HPC as mining margins tighten industrywide.\n\n\n\nThe proposed settlement was filed in the U.S. District Court for the Southern District of New York and still needs court approval.\nThe case covered investors who bought or acquired Hut 8 securities during the class period linked to the merger. Plaintiffs alleged that Hut 8 and related defendants misled investors about USBTC’s operations and the value of assets brought into the combined company.\n\n🚨 HUT 8 AGREES TO PAY $2.35M TO SETTLE INVESTOR CLAIMS OVER 2023 USBTC MERGER $HUT— Blockchain Daily News (@blckchaindaily) June 23, 2026\n\nKing Mountain allegations remain central\nThe dispute centered on the King Mountain joint venture in Texas, where USBTC held a 50% interest before the merger. Investors alleged that disclosures did not fully describe energy curtailment and internet connectivity issues at the site.\nThe court earlier dismissed parts of the case, including Exchange Act claims and Securities Act claims tied to USBTC’s alleged financial condition before the merger. However, the court allowed Securities Act claims tied to alleged King Mountain disclosures to move forward.\nJ Capital Research’s January 2024 short-seller report added pressure to the dispute. The report questioned the value of USBTC assets and said King Mountain lacked reliable power and high-speed internet access at key points before the merger.\nHut 8 denies liability\n\n「Defendants do not admit liability and continue to deny that they engaged in any misconduct or violated the law,」 the settlement filing said.\n\nThe line is central to the agreement. Hut 8 is paying to resolve the case, but the settlement does not include an admission of wrongdoing. The filing also says the parties reached the amount after mediation and accepted a mediator’s proposal in May.\nThe proposed $2.35 million payment represents about 19.6% of estimated maximum recoverable damages. The filing said that level is above the 12.9% median and 14.6% average recovery for Securities Act-only settlements in 2025.\nThe filing also notes that continued litigation carried risk. Defendants had planned to challenge traceability because registered and unregistered shares were issued through the merger and later mixed in the market.\nAI pivot changes Hut 8 story\nThe settlement relates to a prior period in Hut 8’s merger history. The company’s current market story has shifted toward power, compute, AI data centers and high-performance computing, while Bitcoin mining plays a smaller role.\ncrypto.news recently reported that Hut 8 signed a 15-year, $9.8 billion lease for a 352-megawatt Texas facility built around NVIDIA’s reference architecture. That report framed Hut 8 as part of a wider shift where public Bitcoin miners are seeking AI and HPC revenue.\nHut 8 shares traded near $121 at the latest market check. The stock has climbed sharply over the past year as investors value AI infrastructure contracts, power access and long-term data center revenue more heavily than mining output alone.\nFor investors, the settlement closes one legal issue tied to the USBTC merger, subject to court approval. It does not resolve every debate around Hut 8’s business model, but it narrows one court dispute as the company pursues a broader data center strategy. The final settlement hearing will decide whether the deal moves from proposed terms to approved relief for the class.\n\n\n\n\n\n                Read more:\n            \n\n                Nakamoto closes clinics as Bitcoin pivot becomes full business focus","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"-1","news_tag":"merge","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}