Merger between Legacy Hut and USBTC
Company: Hut 8
The claim, verbatim
On November 30, 2023, Legacy Hut effected a strategic all-stock merger combining Legacy Hut and U.S. Data Mining Group, Inc. d/b/a US Bitcoin Corp. (USBTC), forming Hut 8. Each Legacy Hut shareholder received 0.2 shares of Hut 8 common stock, while each USBTC shareholder received 0.6716 shares of Hut 8 common stock.
Source (primary)
Thompson v. Leverton — Entry #8: FILING ERROR - DUPLICATE DOCKET ENTRY - COMPLAINT against Joseph Flinn, Asher Genoot, Alexia Hefti, Michael Ho, Hut 8 Corp., Jamie Leverton, Stanley O'Neal… (RECAP (purchased via PACER), court_filing)
View cached copy (2026-09-25)Live source ↗
Quote: “On November 30, 2023, Legacy Hut effected a strategic all-stock merger combining Legacy Hut and U.S. Data Mining Group, Inc. d/b/a US Bitcoin Corp. (the 'Merger'). As a result of the Merger, Hut 8 was formed and each Legacy Hut shareholder received 0.2 shares of Hut 8 common stock, while each USBTC shareholder received 0.6716 shares of Hut 8 common stock.”
How we checked this
Checked on October 12, 2026. The cited source supports every part of this claim.
The complaint's background section states the merger date, structure, and both exchange ratios as given in the claim.
Confirmed in the source:
- On November 30, 2023, Legacy Hut effected a strategic all-stock merger with U.S. Data Mining Group, Inc. d/b/a US Bitcoin Corp. (USBTC)
- Hut 8 was formed as a result of the merger
- Each Legacy Hut shareholder received 0.2 shares of Hut 8 common stock
- Each USBTC shareholder received 0.6716 shares of Hut 8 common stock
What we did: Read our cached copy of RECAP (purchased via PACER) (https://storage.courtlistener.com/recap/gov.uscourts.nysd.618845/gov.uscourts.nysd.618845.8.0.pdf) in full (109,654 characters, retrieved September 25, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Thompson v. Leverton — Entry #8: FILING ERROR - DUPLICATE DOCKET ENTRY - COMPLAINT against Joseph Flinn, Asher Genoot, Alexia Hefti, Michael Ho, Hut 8 Corp., Jamie Leverton, Stanley O'Neal…
Quote: “On November 30, 2023, Legacy Hut effected a strategic all-stock merger combining Legacy Hut and U.S. Data Mining Group, Inc. d/b/a US Bitcoin Corp. (the 'Merger'). As a result of the Merger, Hut 8 was formed and each Legacy Hut shareholder received 0.2 shares of Hut 8 common stock, while each USBTC shareholder received 0.6716 shares of Hut 8 common stock.”
confirms Thompson v. Leverton — Entry #9: FIRST AMENDED COMPLAINT amending 1 Complaint, against Joseph Flinn, Asher Genoot, Alexia Hefti, Michael Ho, Hut 8 Corp., Jamie Leverton, Stanley O'Neal, Rick…
Quote: “On November 30, 2023, Legacy Hut effected a strategic all-stock merger combining Legacy Hut and U.S. Data Mining Group, Inc. d/b/a US Bitcoin Corp. ("USBTC") (the "Merger"). As a result of the Merger, Hut 8 was formed and each Legacy Hut shareholder received 0.2 shares of Hut 8 common stock, while each USBTC shareholder received 0.6716 shares of Hut 8 common stock.”