King Mountain Joint Venture improperly accounted interest expenses

Checked on October 12, 2026. The cited source supports part of this claim, but not all of it.

The document reports this as an allegation by the plaintiff and a short-seller report; it does not establish that the accounting was actually improper.

Confirmed in the source:

• The complaint alleges King Mountain Joint Venture had interest expenses not properly accounted for, making it appear more profitable to Hut 8 than it was
• The J Capital Report is quoted as saying the JV accounts showed $665,000 of profit while ignoring about $3.2 million of interest expense

We could not confirm this from the cited source:

• That King Mountain's interest expenses were in fact improperly accounted for (this is an allegation, not an established fact)

That does not mean it is false — only that this source does not establish it, as of the date above. If we find a source that settles it, we will re-check and update this page.

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.

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: “King Mountain Joint Venture had certain interest expenses that were not properly accounted for, making it appear as if King Mountain Joint Venture would be more profitable to Hut 8 than it actually was”

View cached copy (2026-09-25)Live source ↗