Mining company Hut 8 has agreed to pay $2.35 million to settle a class action related to the merger with US Bitcoin Corp. in 2023. Plaintiffs who purchased Hut 8 securities between February 2023 and January 2024 claimed that the company exaggerated the benefits of the merger and concealed problems at the King Mountain mining facility in Texas, including potential power outages and internet infrastructure. Hut 8 did not acknowledge the violations, emphasizing that the agreement does not mean consent to the charges.

Judge Victor Marrero partially dismissed the lawsuit in September 2025, leaving only part of the Securities Act claims related to the disclosure of King Mountain risks. After virtual mediation in May 2026, the parties reached a compromise: the sum of $2.35 million is about 19.6% of the maximum possible reimbursement of $12.08 million, which, according to the plaintiffs, exceeds the average for similar cases. Final approval of the agreement is pending with the Federal Court for the Southern District of New York.

Despite legal proceedings, Hut 8 continues to develop its business: after the merger, the company retained a focus on mining, but also increased its focus on AI infrastructure and high-performance computing. In May, Hut 8 announced a 15-year lease on the first phase of Beacon Point, Texas, for $9.8 billion, and had previously introduced a modular model that allows it to flexibly switch power between Bitcoin mining and artificial intelligence tasks.