Bitcoin miner Hut 8 plans to pay $2.35 million to settle securities class action lawsuit
Foresight News reports, according to The Energy Mag, that Bitcoin mining company Hut 8 has agreed to pay $2.35 million to settle a proposed securities class-action lawsuit initiated by investors. The investors allege that Hut 8 exaggerated the benefits of its all-stock merger with U.S. Bitcoin Corp. in 2023, and failed to adequately disclose power and network connection issues at the latter’s King Mountain mine in Texas. Hut 8 did not admit to any wrongdoing or investor losses.
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