Hut 8 to pay $2.35 million to settle investor suit over U.S. Bitcoin merger

The former bitcoin miner denied any wrongdoing related to its 2023 merger with U.S. Bitcoin Corp.

Melinda 4 days ago 3 minutes read

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Hut 8 to pay $2.35 million to settle investor suit over U.S. Bitcoin merger

The former bitcoin miner denied any wrongdoing related to its 2023 merger with U.S. Bitcoin Corp.

By James Van Straten, AI Boost|Edited by Sheldon Reback

Jun 23, 2026, 9:57 a.m.

1 min read

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A fountain pen and spectacles rest on top of blank form for a lawsuit filing. — (Ralf Kleeman/Shutterstock)

Summary

Hut 8 agreed to pay $2.35 million to settle an investor suit alleging the company failed to disclose operational issues at a key mining venture acquired through its 2023 merger with U.S. Bitcoin Corp.
The deal, which requires court approval, ends a securities class action that followed a share price decline after a critical short-seller report in early 2024.

AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

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Why it matters:

In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.

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