Alleged overvaluation of USBTC relative to $745M acquisition price
Company: Hut 8
The claim, verbatim
J Capital Research report stated USBTC had an estimated value 70% less than the approximately $745 million that Hut 8 paid to acquire it
Source (primary)
Ubhi v. Leverton — Entry #1: COMPLAINT against Joe Flinn, Asher Genoot, Alexia Hefti, Mike Ho, Hut 8 Corp., Jaime Leverton, Stanley O'Neal, Rick Rickertsen, Mayo A (RECAP (purchased via PACER), court_filing)
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Quote: “The report cited individuals that were "highly familiar" with USBTC, stating that without the Merger, USBTC would have undergone bankruptcy and that USBTC had a value estimated to be 70% less than the approximately $745 million that Hut 8 paid to acquire it.”
How we checked this
This claim has not yet been checked assertion-by-assertion against its source. It carries a cited source and quote, but the deeper check has not run. When it does, the result appears here whatever it says.
Additional evidence
confirms Ubhi v. Leverton — Entry #1: COMPLAINT against Joe Flinn, Asher Genoot, Alexia Hefti, Mike Ho, Hut 8 Corp., Jaime Leverton, Stanley O'Neal, Rick Rickertsen, Mayo A
Quote: “The report cited individuals that were "highly familiar" with USBTC, stating that without the Merger, USBTC would have undergone bankruptcy and that USBTC had a value estimated to be 70% less than the approximately $745 million that Hut 8 paid to acquire it.”