Hut 8 has agreed to pay $2.35 million to settle a proposed securities class action lawsuit brought by investors who alleged the company misled the market about problems related to its 2023 merger with U.S. Bitcoin Corp. The settlement carries no admission of liability and represents roughly 19.6% of the plaintiff's estimated maximum recoverable damages. It still requires preliminary and final approval from United States District Judge Victor Marrero. The lawsuit claimed Hut 8 glossed over energy and internet troubles at the King Mountain joint venture and painted an inaccurate picture of USBTC's finances, though a judge dismissed most of the case including fraud claims in September 2025. Shares of Hut 8 initially fell about 7% in pre-market trading on June 22 but recovered to trade 2.36% higher intraday near $123.
Hut 8 Corp. Common StockHut 8 agreed to pay $2.35 million to settle a securities class action lawsuit alleging misleading statements about its merger.