hut 8 mining corp shares fell tuesday after the cryptocurrency miner struck an allstock deal that will see it tieup with us data mining group inc building scale in north america in the wake of last years sharp drop in crytocurrency prices in midday trading hut 8s shares were 86 lower at c292 in toronto eating into a strong rebound in recent weeks and leaving them down more than 65 over the last 12 months the canadian company said a merger with us data mining which does business as us bitcoin corp would create a usbased company with a combined market value of roughly 990 million and access to about 825 megawatts of gross energy across six sites with selfmining hosting and managed infrastructure operations under the terms of the agreement between the companies existing shareholders in the two companies will collectively own 50 each of the combined company which will be named hut 8 corp hut 8s shareholders will receive 02 of a share of the new company for each of their shares while us data mining shareholders will each get 06716 of a share of the new company for each share the companies said the combined company which will be listed on the toronto stock exchange and nasdaq stock market will have a balance sheet offering greater financial flexibility to grow and invest in new opportunities the companies said and the increased scale and us headquarters are expected to lead to inclusion in new indexes and offer improved access to capital they said