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Published: Aug. 29, 2023 at 11:31 a.m. ET

By Adriano Marchese

Hut 8 Mining shares were higher late Tuesday morning after the company said that a proxy advisory firm recommended that its shareholders vote in favor of combining with U.S. Data Mining, which is doing business as US Bitcoin Corp.

At 11:25 a.m. ET, shares were trading nearly 16% higher at 3.57 Canadian dollars ($2.62).

By Adriano Marchese

Hut 8 Mining shares were higher late Tuesday morning after the company said that a proxy advisory firm recommended that its shareholders vote in favor of combining with U.S. Data Mining, which is doing business as US Bitcoin Corp.

At 11:25 a.m. ET, shares were trading nearly 16% higher at 3.57 Canadian dollars ($2.62).

The Toronto-based cryptocurrency mining and blockchain infrastructure company said that Institutional Shareholder Services gave a positive recommendation for the two companies to merge.

Hut 8 Chief Executive Jaime Leverton said he believes that once completed, the merger will establish a strengthened, dynamic business backed by both bitcoin and fiat revenues generated across its operations in North America.

The transaction's completion still requires certain regulatory approvals, including from the Supreme Court of British Columbia, as well as from the shareholders of both companies.

Write to Adriano Marchese at adriano.marchese@wsj.com

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Hut 8 Mining Shares Rise on Proxy Firm Recommendation on Merger with USBC - MarketWatch