Hut 8 shareholders overwhelmingly approve merger with U.S. Bitcoin
By MEDICINE HAT NEWS on September 14, 2023.
https://www.medicinehatnews.com@MedicineHatNews Shareholders in Hut 8 Cryptocurrency have approved a merger with U.S. Data Mining Group (U.S. Bitcoin) as a special vote announced Tuesday. The all-stock merger was announced last winter with companies stating the resulting firm would create on the largest publicly traded entities in the cryptocurrency sector. The new company would be called “Hut 8 Corp.” and be domiciled in the United States. Results announced by Hut 8 show 97 per cent support for the combination in voting, which concluded Sept. 8. Hut 8 has major data-processing facilities for cryptocurrency in Medicine Hat and Drumheller, and centres for other computing services in B.C. and Ontario. U.S. Bitcoin operates facilities in Texas, Nebraska and upper New York state. The companies still require a final court approval in B.C., but expect the transaction to close Sept. 30. IPC oil sands entry A large conventional oil producer in southern Alberta has received approval to build a co-generation power plant at its forthcoming oilsands project near Lac La Biche. International Petroleum Corp., which operates on large portions of the Suffield block, acquired the Black Rod oilsands recovery pilot project from Black Pearl Resources in 2018. Last winter, it announced a first phase of its steam-assisted gravity facility would commence this year in order to access 218 million barrels of proven and probable reserves at the property. On Sept. 8, the Alberta Utilities Commission approved IPC’s plan to build a 33 megawatt natural gas power plant at the site coupled with steam recovery. The company has targeted late 2026 for commissioning of the entire facility. 15-14
