Fintech PR
Independent Proxy Advisory Firm ISS Recommends Hut 8 Shareholders Vote for Merger of Equals with US Bitcoin Corp
Votes must be received no later than 4 p.m. ET September 8, 2023
TORONTO, Aug. 29, 2023 /PRNewswire/ — Hut 8 Mining Corp. (Nasdaq: HUT) (TSX: HUT), (“Hut 8” or the “Company“) one of North America’s largest, innovation-focused digital asset mining pioneers and high performance computing infrastructure provider, announced today that Institutional Shareholder Services Inc. (“ISS“), the world’s leading provider of corporate governance and responsible investment solutions, has recommended that Hut 8 shareholders vote in favour of the resolutions approving the proposed business combination (the “Transaction“) with U.S. Data Mining Group, Inc. dba US Bitcoin Corp (“USBTC“).
The recommendation comes as Hut 8 continues to make progress on the Transaction, pursuant to which Hut 8 and U.S. Data Mining Group, Inc. dba US Bitcoin Corp (“USBTC“) will combine in an all-stock merger of equals. The combined company will be named “Hut 8 Corp.” (“New Hut“) and will be a U.S.-domiciled entity. New Hut intends to list its shares on Nasdaq and the TSX under the trading symbol “HUT” following the completion of the Transaction, subject to the approval of Nasdaq and the TSX. The Transaction is expected to establish New Hut as a large scale, publicly traded Bitcoin miner focused on economical mining, highly diversified revenue streams, and industry leading environmental, social, and governance (ESG) practices.
New Hut’s combined balance sheet is expected to provide New Hut with greater financial stability, enhance its ability to navigate market cycles and increase its ability to expand and invest in new opportunities.
“We continue to make progress toward closing the Transaction with USBTC and are very pleased that ISS has recommended that Hut 8 shareholders vote in favour of all resolutions to establish New Hut,” said Jaime Leverton, CEO of Hut 8. “We believe that once completed, the merger will establish a strengthened, dynamic business backed by both Bitcoin and fiat revenues generated from robust North America-wide operations.”
The completion of the Transaction is subject to certain conditions, including the receipt of the requisite approval from the shareholders of Hut 8 and the stockholders of USBTC, the final order of the Supreme Court of British Columbia at an application which is scheduled for September 15, 2023, the S-4 becoming effective, and other closing conditions customary in transactions of this nature. If all necessary approvals are obtained and the conditions to the completion of the Transaction are satisfied or waived, it is currently anticipated that the Transaction will be completed by September 30, 2023.
All shareholders of record have been sent their confidential control number by mail. Any shareholders who have not received their control number should contact our proxy solicitation agents, Alliance Advisors, at 1-888-511-2641 toll free in North America or by email at [email protected].
Shareholders can vote in the following ways:
- Online at proxyvote.com using the control number sent to the shareholder address on file
- By telephone at 1-800-474-7493 (English) or 1-800-474-7501 (French)
- By mail by returning the voting instruction form that has been sent to the shareholder address on file
If you have any questions or require more information with respect to the procedures for voting, please contact our proxy solicitation agents, Alliance Advisors at 1-888-511-2641 toll free in North America or by email at [email protected].
Through innovation, imagination, and passion, Hut 8’s seasoned executive team is bullish on building and operating computing infrastructure that powers Bitcoin mining, traditional data centres, and emerging technologies like AI and machine learning. Hut 8’s infrastructure portfolio includes seven sites: five high performance computing data centres across British Columbia and Ontario that offer cloud, co-location, managed services, A.I., machine learning, and VFX rendering computing solutions, and two Bitcoin mining sites located in Southern Alberta. Long-distinguished for its unique treasury strategy, Hut 8 has one of the highest inventories of self-mined Bitcoin of any publicly-traded company globally. Follow us on X (formerly known as Twitter) at @Hut8Mining.
This press release includes “forward-looking information” and “forward-looking statements” within the meaning of Canadian securities laws and United States securities laws, respectively (collectively, “forward-looking information”). All information, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as future business strategy, competitive strengths, goals, expansion and growth of the Company’s businesses, operations, plans and other such matters is forward-looking information. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “allow”, “believe”, “estimate”, “expect”, “predict”, “can”, “might”, “potential”, “predict”, “is designed to”, “likely” or similar expressions. In addition, any statements in this press release that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information and include, among others, statements with respect to the timing and completion (if at all) of a Stalking Horse Bid, the timing and completion (if at all) of a proposed sale and investment solicitation process, the timing of the proceedings in respect of the Receiver and the expected resolution of litigation claims between Hut 8 and certain Validus Entities.
Statements containing forward-looking information are not historical facts, but instead represent management’s expectations, estimates and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by Hut 8 as of the date of this press release, such statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to, security and cybersecurity threats and hacks, malicious actors or botnet obtaining control of processing power on the Bitcoin network, further development and acceptance of the Bitcoin network, changes to Bitcoin mining difficulty, loss or destruction of private keys, increases in fees for recording transactions in the Blockchain, erroneous transactions, reliance on a limited number of key employees, reliance on third party mining pool service providers, regulatory changes, classification and tax changes, momentum pricing risk, fraud and failure related to digital asset exchanges, difficulty in obtaining banking services and financing, difficulty in obtaining insurance, permits and licenses, internet and power disruptions, geopolitical events, uncertainty in the development of cryptographic and algorithmic protocols, uncertainty about the acceptance or widespread use of digital assets, failure to anticipate technology innovations, the COVID19 pandemic, climate change, currency risk, lending risk and recovery of potential losses, litigation risk, business integration risk, changes in market demand, changes in network and infrastructure, system interruption, changes in leasing arrangements, failure to achieve intended benefits of power purchase agreements, potential for interrupted delivery, or suspension of the delivery, of energy to the Company’s mining sites, and other risks related to the digital asset and data centre business. For a complete list of the factors that could affect the Company, please see the “Risk Factors” section of the Company’s Annual Information Form dated March 9, 2023, and Hut 8’s other continuous disclosure documents which are available on the Company’s profile on the System for Electronic Document Analysis and Retrieval at www.sedar.com and on the EDGAR section of the U.S. Securities and Exchange Commission’s website at www.sec.gov.
Hut 8 Investor Relations: Sue Ennis, [email protected]; Hut 8 Media Relations: Erin Dermer, [email protected]
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Fintech PR
Hyundai Motor and Škoda Group to Collaborate on Hydrogen Advancement and Energy Efficient Solutions for Mobility
- Hyundai Motor Company and Škoda Group sign a Memorandum of Understanding (MOU) during the Korea-Czech Business Summit in Prague
- Both parties to cooperate in establishing a hydrogen economy and realizing a sustainable future mobility ecosystem
- Škoda Group to explore hydrogen mobility expansion by adopting Hyundai’s hydrogen fuel cell systems and technologies
SEOUL, South Korea and PRAGUE, Sept. 20, 2024 /PRNewswire/ — Hyundai Motor Company and Škoda Group have signed a Memorandum of Understanding (MOU) to commence collaboration on establishing a hydrogen mobility ecosystem.
The signing ceremony, which took place at the Korea-Czech Republic Business Summit in Prague, was attended by Ken Ramírez, Executive Vice President and Head of Global Commercial Vehicle and Hydrogen Business at Hyundai Motor Company, and Petr Novotný, CEO of Škoda Group.
The MOU covers study on adoption of hydrogen fuel cell systems and technologies, study on adoption of energy efficient solutions for mobility projects and products, and exploring hydrogen ecosystem and value chain opportunities beyond mobility.
“Our partnership with Škoda Group aims to accelerate hydrogen adoption, which would contribute to the advancement of hydrogen technology and carbon neutrality across global markets, including the Czech Republic,” said Executive Vice President Ramírez. “Together with Škoda Group, we strive to lead the rapidly growing hydrogen businesses by creating positive synergies between our fuel cell technology and Škoda Group’s mobility products and projects.”
“We believe that hydrogen, alongside energy-efficient solutions, will play an essential role in transforming mobility for a more sustainable future. Our collaboration with Hyundai Motor Company aims at enabling us to look beyond national borders and explore wider markets where these technologies can have a larger impact. By working together, we can bring innovative, eco-friendly solutions to the global mobility ecosystem, advancing cleaner energy in the areas where it’s needed most,” said Petr Novotný, CEO of Škoda Group.
Both parties share the view that hydrogen will be a key pillar for a sustainable society, starting with mobility. As part of the MOU, the parties will explore the possibility that Hyundai would share its fuel cell system and technology, contributing to the acceleration of eco-friendly mobility across global markets where Škoda Group operates, including the Czech Republic.
Hyundai Motor Company and Škoda Group will also conduct feasibility studies for fuel cell system applications for diverse utilization beyond mobility. Leveraging its global expertise and insights in operating various hydrogen applications in both mobility and energy sectors, Hyundai is poised to play a pivotal role in aiding the energy transition.
Hyundai Motor Group is committed to building a hydrogen society under its hydrogen value chain business brand HTWO, which encompasses the Group’s businesses and affiliates, enabling each stage of the entire hydrogen value chain.
Hyundai Motor Manufacturing Czech (HMMC) in Nošovice, established in 2008, has an annual manufacturing capacity of 350,000 vehicles. Considered one of the most modern car manufacturers in Europe, the manufacturing plant was also the largest foreign investment in the Czech Republic.
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Fintech PR
Banking as a Service Market to Reach $22.6 billion, Globally, by 2032 at 19.3% CAGR: Allied Market Research
An increase in the use of digital transformation technology in banks, along with streamlining financial services drives the growth of the market. In addition, the rise in the adoption of banking & financial sectors across the globe fuels the growth of the market.
PORTLAND, Ore., Sept. 20, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Banking as a Service Market by Component (Platform and Service), Type (API-based Bank-as-a-service and Cloud-based Bank-as-a-service) and End User (Banks, FinTech Corporations/NBFC and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032“. According to the report, the “banking as a service market” was valued at $4 billion in 2022, and is projected to reach $22.6 billion by 2032, growing at a CAGR of 19.3% from 2023 to 2032.
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An increase in the use of digital transformation technology in banks, along with streamlining financial services drives the growth of the market. In addition, the rise in the adoption of banking & financial sectors across the globe fuels the growth of the market. Moreover, continuous technological innovations as well as a rise in internet and mobile penetration are expected to provide lucrative opportunities for the growth of the market during the forecast period. On the contrary, the increase in cyber-attacks and the high cost of adoption limits the growth of the banking as a service market.
The platform segment held the highest market share in 2022.
By component, the platform segment dominated the market in 2022, this dominance is driven by the increasing demand for integrated banking solutions that allow financial institutions and fintech companies to offer a wide range of banking services through a single, scalable platform. These platforms enable seamless integration of various financial services such as payments, lending, and account management into third-party applications, making them highly valuable in the rapidly evolving digital banking ecosystem. However, the service segment is expected to witness the largest CAGR of 21.4%, this growth is driven by the increasing need for consulting, integration, and support services that help financial institutions and fintech companies effectively implement and manage BaaS platforms. As more businesses adopt digital banking solutions, the demand for specialized services to ensure seamless platform integration, regulatory compliance, and ongoing technical support is rising.
The banks segment held the highest market share in 2022.
By end user, the banks segment accounted for the largest share in 2022. This dominance is due to banks extensive infrastructure and established networks that facilitate international transactions. Their broad range of services, including secure handling of funds, comprehensive financial offerings, and strong regulatory compliance, contribute to their leading position in the banking as a service market. However, the others segment is expected to witness the largest CAGR of 20.4%. In the rapidly evolving Banking-as-a-Service (BaaS) market, several government initiatives and investment firms are poised to witness significant growth. The regulatory frameworks not only foster innovation but also create a conducive environment for BaaS growth. Similarly, investment firms like Accel Partners, Sequoia Capital, and Andreessen Horowitz are heavily investing in fintech and BaaS platforms, fueling their growth and development.
Purchase This Comprehensive Report (PDF with Insights, Charts, Tables, and Figures) @
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Regional Insights: The Europe region held the highest market share in 2022.
By region, the banking as a service market was dominated by Europe in 2022. This dominance is largely attributed to the region’s early adoption of open banking regulations, such as the revised payment services directive (PSD2), which has fostered collaboration between traditional banks and fintech companies. Europe’s regulatory environment encourages innovation and competition in financial services, making it a leading market for BaaS platforms.
Key Industry Developments
- In May 2024, Fintech unicorn Zeta launched a digital credit-as-a-service product for its enterprise customers, primarily banks. The product is based on the credit lines on the UPI scheme that the Reserve Bank of India rolled out in September to reduce the cost of financial services and allow users to access pre-approved credit through their UPI-linked accounts.
- In May 2024, AppTech Payments Corp. launched InstaCash, which utilizes the BaaS for virtual accounts, debit and credit cards, and high-interest-yielding financial products.
- In September 2023, Konsentus partnered with Brankas to enable financial institutions, central banks, and regulators to accelerate their open finance journeys. The integrated technology solutions will deliver ease of use, security, and cost-efficiency for those setting up or participating in open ecosystems.
Get More Information Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/A14258
Players: –
- Solaris SE
- Bnkbl Ltd
- Treasury Prime
- Block Inc.
- MatchMove Pay Pte Ltd
- ClearBank Ltd
- Stripe Inc.
- Green Dot Corporation
- Starling Bank
- Banco Bilbao Vizcaya Argentaria
- S.A.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the banking-as-a-service market analysis from 2022 to 2032 to identify the prevailing banking-as-a-service market opportunities.
- Market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the banking-as-a-service market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global banking-as-a-service market trends, key players, market segments, application areas, and market growth strategies.
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Banking-as-a-Service Market Key Segments:
By Component
- Platform
- Service
By Type
- API-based Bank-as-a-service
- Cloud-based Bank-as-a-service
By End User
- Banks
- FinTech Corporations/NBFC
- Others
By Region
- North America (U.S., Canada)
- Europe (UK, Germany, France, Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East, Africa)
Trending Reports in BFSI Industry (Book Now with 10% Discount + Covid-19 scenario):
U.S. Banking-as-a-Service Market Size, Share, Competitive Landscape and Trend Analysis Report, by Component, by Type, by End User: Opportunity Analysis and Industry Forecast, 2022-2032
UK Banking-as-a-Service Market Size, Share, Competitive Landscape and Trend Analysis Report, by Component, by Type, by End User: Opportunity Analysis and Industry Forecast, 2022-2032
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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