USBTC would have pursued bankruptcy absent merger
Company: Hut 8
The claim, verbatim
According to someone highly familiar with USBTC, the company would have filed structured bankruptcy if not for the Merger.
Source (primary)
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… (RECAP, court_filing)
View cached copy (2026-09-26)Live source ↗
Quote: “according to an individual "highly familiar with USBTC," if not for the Merger, USBTC "would have done a structured bankruptcy."”
How we checked this
Checked on September 28, 2026. The cited source supports every part of this claim.
The complaint quotes the J Capital Report relaying this statement from an unnamed person highly familiar with USBTC. The claim attributes it to that person accordingly.
Confirmed in the source:
- A person described as highly familiar with USBTC said that without the merger USBTC would have done a structured bankruptcy (as quoted in the J Capital Research report cited by the complaint)
What we did: Read our cached copy of RECAP (https://storage.courtlistener.com/recap/gov.uscourts.nysd.618845/gov.uscourts.nysd.618845.9.0.pdf) in full (109,679 characters, retrieved September 26, 2026) and checked each assertion in the claim against it.
Additional evidence
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: “according to an individual "highly familiar with USBTC," if not for the Merger, USBTC "would have done a structured bankruptcy."”