UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of August, 2023
Commission File Number: 001-40487
HUT 8 MINING CORP.
(Exact Name of Registrant as Specified in Its Charter)
24 Duncan Street, Suite 500, Toronto, Ontario,
M5V 2B8
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Form 20-F
¨ Form 40-F x
Exhibit
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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HUT 8 MINING CORP. |
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By: |
/s/ Jaime Leverton |
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Name: |
Jaime Leverton |
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Title: |
Chief Executive Officer |
Date: August 25, 2023
3
EXHIBIT 99.1
Hut 8 Provides Update on Business Combination
with USBTC
TORONTO, Aug. 25, 2023 /CNW/ - Hut 8 Mining Corp.
(Nasdaq: HUT) (TSX: HUT), ("Hut 8" or the "Company") one of North America's largest, innovation-focused
digital asset mining pioneers and high performance computing infrastructure provider, continues to make progress on the proposed business
combination pursuant to which Hut 8 and U.S. Data Mining Group, Inc. dba US Bitcoin Corp ("USBTC") will combine in an all-stock
merger of equals (the "Transaction"). The combined company will be named "Hut 8 Corp." ("New Hut") and will
be a U.S.-domiciled entity. The Transaction is expected to establish New Hut as a large scale, publicly traded Bitcoin miner focused on
economical mining, highly diversified revenue streams, and industry leading environmental, social, and governance (ESG) practices.
New Hut has filed a further amendment to its Form
S-4 Registration Statement with the U.S. Securities and Exchange Commission (the "SEC").
"We look forward to securing SEC clearance for
New Hut's registration statement in the very near term while we work to complete this merger of equals," said Jaime Leverton, CEO
of Hut 8. "We believe that once completed, New Hut will be a strengthened, dynamic business backed by both Bitcoin and considerable
fiat revenues generated from robust North American-wide hosting, mining infrastructure, and high performance computing operations."
Completion of the Transaction remains subject to the
remaining regulatory approvals, shareholder approval, court approval, and other customary closing conditions of the transaction.
About Hut 8
Through innovation, imagination, and passion, Hut
8's seasoned executive team is bullish on building and operating computing infrastructure that powers Bitcoin mining, traditional data
centres, and emerging technologies like AI and machine learning. Hut 8's infrastructure portfolio includes seven sites: five high
performance computing data centres across British Columbia and Ontario that offer cloud, co-location, managed services, A.I., machine
learning, and VFX rendering computing solutions, and two Bitcoin mining sites located in Southern Alberta. Long-distinguished for
its unique treasury strategy, Hut 8 has one of the highest inventories of self-mined Bitcoin of any publicly-traded company globally.
Follow us on X (formerly known as Twitter) at @Hut8Mining.
Cautionary Note Regarding Forward–Looking Information
This press release includes "forward-looking
information" and "forward-looking statements" within the meaning of Canadian securities laws and United States securities
laws, respectively (collectively, "forward-looking information"). All information, other than statements of historical facts,
included in this press release that address activities, events or developments that the Company expects or anticipates will or may occur
in the future, including such things as future business strategy, competitive strengths, goals, expansion and growth of the Company's
businesses, operations, plans and other such matters is forward-looking information. Forward-looking information is often identified by
the words "may", "would", "could", "should", "will", "intend", "plan",
"anticipate", "allow", "believe", "estimate", "expect", "predict", "can",
"might", "potential", "predict", "is designed to", "likely" or similar expressions.
In addition, any statements in this press release that refer to expectations, projections or other characterizations of future events
or circumstances contain forward-looking information and include, among others, statements regarding: (i) expectations related to New
Hut's hashrate and self-mining capacity; (ii) the expected outcomes of the Transaction; (iii) the ability of Hut 8 and USBTC to complete
the Transaction on the terms described herein, or at all, including, receipt of required regulatory approvals, shareholder approvals,
court approvals, stock exchange approvals and satisfaction of other closing customary conditions; (iv) the expected synergies related
to the Transaction in respect of strategy, operations and other matters; (v) projections related to expansion; (vi) acceleration of ESG
efforts and commitments; (vii) the ability of USBTC to resume mining activities in Niagara Falls, New York, and (viii) the ability of
New Hut to execute on future opportunities, among others.
Statements containing forward-looking information
are not historical facts, but instead represent management's expectations, estimates and projections regarding future events based on
certain material factors and assumptions at the time the statement was made. While considered reasonable by Hut 8 as of the date of this
press release, such statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the
actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking
information, including but not limited to: the ability to obtain requisite shareholder approvals and the satisfaction of other conditions
to the consummation of the Transaction on the proposed terms or at all; the ability to obtain necessary stock exchange, regulatory, governmental
or other approvals in the time assumed or at all; the anticipated timeline for the completion of the Transaction; the ability to realize
the anticipated benefits of the Transaction or implementing the business plan for New Hut, including as a result of a delay in completing
the Transaction or difficulty in integrating the businesses of the companies involved (including the retention of key employees); the
ability to realize synergies and cost savings at the times, and to the extent, anticipated; the potential impact on mining activities;
the potential impact of the announcement or consummation of the Transaction on relationships, including with regulatory bodies, employees,
suppliers, customers, competitors and other key stakeholders; security and cybersecurity threats and hacks; malicious actors or botnet
obtaining control of processing power on the Bitcoin network; further development and acceptance of the Bitcoin network; changes to Bitcoin
mining difficulty; loss or destruction of private keys; increases in fees for recording transactions in the Blockchain; internet and power
disruptions; geopolitical events; uncertainty in the development of cryptographic and algorithmic protocols; uncertainty about the acceptance
or widespread use of digital assets; failure to anticipate technology innovations; the COVID-19 pandemic; climate change; currency risk;
lending risk and recovery of potential losses; litigation risk; business integration risk; changes in market demand; changes in network
and infrastructure; system interruption; changes in leasing arrangements; failure to achieve intended benefits of power purchase agreements;
potential for interrupted delivery, or suspension of the delivery, of energy to New Hut's mining sites. For a complete list of the factors
that could affect the Company, please see the "Risk Factors" section of the Company's Annual Information Form dated March 9,
2023 and Hut 8's other continuous disclosure documents which are available on the Company's profile on the System for Electronic Document
Analysis and Retrieval at www.sedar.com and on the EDGAR section of the SEC's website at www.sec.gov.
These risks are not intended to represent a complete
list of the factors that could affect Hut 8, USBTC, or New Hut; however, these factors should be considered carefully. There can be no
assurance that such estimates and assumptions will prove to be correct. Should one or more of these risks or uncertainties materialize,
or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described
in this press release as intended, planned, anticipated, believed, sought, proposed, estimated, forecasted, expected, projected or targeted
and such forward-looking statements included in this press release should not be unduly relied upon. The impact of any one assumption,
risk, uncertainty, or other factor on a particular forward-looking statement cannot be determined with certainty because they are interdependent
and New Hut's future decisions and actions will depend on management's assessment of all information at the relevant time. The forward-looking
statements contained in this press release are made as of the date of this press release, and Hut 8 expressly disclaims any obligation
to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a
result of new information, future events or otherwise, except as required by law. Except where otherwise indicated herein, the information
provided herein is based on matters as they exist as of the date of preparation and not as of any future date, and will not be updated
or otherwise revised to reflect information that subsequently becomes available, or circumstances existing or changes occurring after
the date of preparation.
Additional Information about the Transaction and Where to Find It
In connection with the Transaction, that, if completed,
would result in New Hut becoming a new public company, New Hut has filed a registration statement on Form S-4 (the "Form S-4")
with the SEC. USBTC and Hut 8 urge investors, shareholders, and other interested persons to read the Form S-4, including any amendments
thereto, the Hut meeting circular, as well as other documents to be filed with the SEC and documents to be filed with Canadian securities
regulatory authorities in connection with the Transaction, as these materials will contain important information about USBTC, Hut 8, New
Hut and the Transaction. New Hut also has, and will, file other documents regarding the Transaction with the SEC. This press release is
not a substitute for the Form S-4 or any other documents that may be sent to Hut's shareholders or USBTC's stockholders in connection
with the Transaction. Investors and security holders will be able to obtain free copies of the Form S-4 and all other relevant documents
filed or that will be filed with the SEC by New Hut through the website maintained by the SEC at www.sec.gov or by contacting the
investor relations department of Hut 8 at info@hut8.io and of USBTC at info@usbitcoin.com.
No Offer or Solicitation
This press release is not intended to and shall not
constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there
be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements
of Section 10 of the Securities Act of 1933, as amended (the "Securities Act") or in a transaction exempt from the registration
requirements of the Securities Act.
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SOURCE Hut 8 Mining Corp
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2023/25/c9404.html
%CIK: 0001731805
For further information: Hut 8 Investor Relations: Sue Ennis, sue@hut8.io;
Hut 8 Media Relations: Erin Dermer, erin.dermer@hut8.io
CO: Hut 8 Mining Corp
CNW 06:30e 25-AUG-23
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