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cryptoJun 23, 2026, 10:41 AM

Hut 8 Agrees to $2.35M Settlement in Class Action Over Merger

Hut 8 has agreed to pay $2.35 million to settle a class action lawsuit tied to its 2023 merger with US Bitcoin. Plaintiffs alleged the company overstated deal benefits and failed to disclose issues at its King Mountain mine.

HUT

Hut 8 has reached a $2.35 million settlement to resolve a class action lawsuit brought by investors over its 2023 merger with US Bitcoin Corp.

The plaintiffs claimed that Hut 8 inflated the benefits of the merger and failed to disclose operational problems at the King Mountain Bitcoin mining facility in Texas. The company did not admit any wrongdoing as part of the agreement.

The settlement still requires approval from the Federal Court for the Southern District of New York.

Source: ForkLog