Per Woofun AI, Hut 8 has agreed to a $2.35 million payment to resolve a proposed class action lawsuit filed by investors. The legal action stemmed from allegations that the mining firm exaggerated transaction profits during its full-share merger with U.S. Bitcoin Corp. in 2023.

Investors further claimed Hut 8 failed to fully disclose operational issues related to the power supply and network connectivity at the King Mountain mine, an asset owned by U.S. Bitcoin Corp. Despite the settlement agreement, Hut 8 has maintained its denial of any law violations or causation of investor losses.