# EDGAR Filing Document

**Accession Number:** 0001731805
**File Stem:** 0001104659-23-029373
**Filing Date:** 2023-3
**Character Count:** 14055
**Document Hash:** 66f8c976017a9c70f217d6ecc5c321fb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-029373.hdr.sgml**: 20230307

**ACCESSION NUMBER**: 0001104659-23-029373

**CONFORMED SUBMISSION TYPE**: 425

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20230307

**DATE AS OF CHANGE**: 20230307

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HUT 8 MINING CORP.
- **CENTRAL INDEX KEY:** 0001731805
- **STANDARD INDUSTRIAL CLASSIFICATION:** FINANCE SERVICES [6199]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** A1
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 425
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40487
- **FILM NUMBER:** 23711407

**BUSINESS ADDRESS:**
- **STREET 1:** 24 DUNCAN STREET
- **STREET 2:** SUITE 500
- **CITY:** TORONTO
- **STATE:** A6
- **ZIP:** M5V 2B8
- **BUSINESS PHONE:** 647-256-1992

**MAIL ADDRESS:**
- **STREET 1:** 24 DUNCAN STREET
- **STREET 2:** SUITE 500
- **CITY:** TORONTO
- **STATE:** A6
- **ZIP:** M5V 2B8
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HUT 8 MINING CORP.
- **CENTRAL INDEX KEY:** 0001731805
- **STANDARD INDUSTRIAL CLASSIFICATION:** FINANCE SERVICES [6199]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** A1
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 425

**BUSINESS ADDRESS:**
- **STREET 1:** 24 DUNCAN STREET
- **STREET 2:** SUITE 500
- **CITY:** TORONTO
- **STATE:** A6
- **ZIP:** M5V 2B8
- **BUSINESS PHONE:** 647-256-1992

**MAIL ADDRESS:**
- **STREET 1:** 24 DUNCAN STREET
- **STREET 2:** SUITE 500
- **CITY:** TORONTO
- **STATE:** A6
- **ZIP:** M5V 2B8

FILED BY HUT 8 MINING CORP.

COMMISSION FILE NO. 001-40487

PURSUANT TO RULE 425 UNDER THE SECURITIES ACT OF 1933, AS AMENDED

SUBJECT COMPANY: U.S. DATA MINING GROUP, INC. AND HUT 8 CORP.

The following is a partial transcript of an interview made available by Paul Barron Network on YouTube on March 6, 2023.

![Graphical user interface, website Description automatically generated](tm236872d6_425img001.jpg)

Partial Transcript: Hut 8 Game NFTs Sold Out Instantly \| Crypto Market Update w/ Sue Ennis

Paul Barron Network

YouTube

…

**Sue Ennis:** Yeah, so I would certainly say that we're up there. And I should say that we are in the middle of a proposed merger with an incredible company south of the border. So I'm a little bit limited as to sort of what I can say now. But I would say that, you know, in terms of renewables in terms of looking at energy hedging in terms of looking at treasury management strategy, that is all a big part of how we run our business, and obviously, on top of our diversified High Performance Computing play. So certainly, looking at increasing that mix of renewables and diversifying our energy portfolio is a big priority for us. With this proposed merger, with this company called USBTC, south of the border, really sort of hits a lot of those priorities for us. So it grows our pipeline of opportunities. It advances our commitment to driving improvements across all ESG and energy mix, metrics. The deal also improves our energy expertise and hedging capabilities. They have an in house energy and hedging team that we're incredibly excited about. They have a purpose built platform and software layer that's focused on you know, how do we make sure that you're arbitraging electrons in an efficient way, what is now good. But I think, again, in a post-merger world, if this merger does get approved, which we're hoping to in Q2, it goes from good to excellent, is how I feel.

**Interviewer:** Just for our audience, I went through this, available over on the Hut 8 website, too, you can just go over there and look at this presentation. It's pretty insightful in kind of the strategy. This is the merger that Sue is referencing, again, Hut 8 didn't ask us to talk about this, but I'm curious all the time. But I was looking at this, you know, just looking at the sites across North America, the market cap on what's happening with this particular merger, and you can kind of see some of the expertise areas. These guys are based here in Miami, which is of course, our home turf. So that's good with a US-based company. Lots happening here. I'm very excited about this for you guys. I think this will be interesting to watch over the evolution because I think mining is going to be not only a critical component for the next happening, it's going to be a critical component for being able to get regulation in line so people can get away from this a stigma that we have around these ESG scenarios that play out. So good luck to what you guys have going there for sure. Okay, so I want to talk about some other things here. And one of the scenarios that I want to get into is, in general, is Eth. And then you look, obviously, you guys used to be a massive Eth miner, that all has changed. You've repositioned your business, going more into cloud computing, the potential of web3 plays into that. How is that coming for you guys right now?

…

**Cautionary note regarding Forward–Looking Information**

This communication 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 communication that address activities, events or developments that Hut 8 expects or anticipates will or may occur in the future, including such things as future business strategy, competitive strengths, goals, expansion and growth of Hut 8'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 communication 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: (i) the expected outcomes of the Transaction, including New Hut's assets and financial position; (ii) the ability of Hut 8 and USBTC to complete the Transaction on the terms described herein, or at all, including, receipt of required regulatory approvals, shareholder approvals, court approvals, stock exchange approvals and satisfaction of other closing customary conditions; (iii) the expected synergies related to the Transaction in respect of strategy, operations and other matters; (iv) projections related to expansion; (v) expectations related to the Combined Company's hashrate and self-mining capacity; (vi) acceleration of ESG efforts and commitments; and (vii) the ability of the Combined Company to execute on future opportunities, among others.

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 and USBTC as of the date of this communication, 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: the ability to obtain requisite shareholder approvals and the satisfaction of other conditions to the consummation of the Transaction on the proposed terms or at all; the ability to obtain necessary stock exchange, regulatory, governmental or other approvals in the time assumed or at all; the anticipated timeline for the completion of the Transaction; the ability to realize the anticipated benefits of the Transaction or implementing the business plan for the Combined Company, including as a result of a delay in completing the Transaction or difficulty in integrating the businesses of the companies involved (including the retention of key employees); the ability to realize synergies and cost savings at the times, and to the extent, anticipated; the potential impact on mining activities; the potential impact of the announcement or consummation of the Transaction on relationships, including with regulatory bodies, employees, suppliers, customers, competitors and other key stakeholders; the outcome of any litigation proceedings in respect of USBTC's legal dispute with the City of Niagara Falls, New York; 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; 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 COVID-19 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 Combined Company's mining sites. 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 17, 2022 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 <u>www.sedar.com</u> and on the EDGAR section of the U.S. Securities and Exchange Commission's ("SEC") website at <u>www.sec.gov</u>.

These risks are not intended to represent a complete list of the factors that could affect Hut 8, USBTC, or New Hut; however, these factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described in this communication as intended, planned, anticipated, believed, sought, proposed, estimated, forecasted, expected, projected or targeted and such forward-looking statements included in this communication should not be unduly relied upon. The impact of any one assumption, risk, uncertainty, or other factor on a particular forward-looking statement cannot be determined with certainty because they are interdependent and New Hut's future decisions and actions will depend on management's assessment of all information at the relevant time. The forward-looking statements contained in this communication are made as of the date of this communication, and each of Hut 8 and USBTC expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law. Except where otherwise indicated herein, the information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, and will not be updated or otherwise revised to reflect information that subsequently becomes available, or circumstances existing or changes occurring after the date of preparation.

**Additional information about the transaction and where to find it**

In connection with the transaction, that, if completed, would result in Hut 8 Corp. ("New Hut") becoming a new public company, New Hut has filed a registration statement on Form S-4 (the "Form S-4") with the U.S. Securities Exchange Commission (the "SEC"). U.S. Data Mining Group, Inc. ("USBTC") and Hut 8 Mining Corp. ("Hut 8") urge investors, shareholders, and other interested persons to read the Form S-4, including any amendments thereto, the Hut 8 meeting circular, as well as other documents filed or to be filed with the SEC and documents to be filed with Canadian securities regulatory authorities in connection with the transaction, as these materials do and will contain important information about USBTC, Hut 8, New Hut and the transaction. New Hut also has, and will, file other documents regarding the transaction with the SEC. This communication is not a substitute for the Form S-4 or any other documents that may be sent to Hut 8's shareholders or USBTC's stockholders in connection with the transaction. Investors and security holders are or will be able to obtain free copies of the Form S-4 and all other relevant documents filed or that will be filed with the SEC by New Hut through the website maintained by the SEC at www.sec.gov or by contacting the investor relations department of Hut 8 at info@hut8.io and of USBTC at info@usbitcoin.com.

**No Offer or Solicitation**

This communication is not intended to and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended (the "Securities Act") or in a transaction exempt from the registration requirements of the Securities Act.