[Hut 8 Agrees to Pay $2.35 Million to Settle Securities Class Action Lawsuit] According to The Energy Mag, Hut 8 has agreed to pay $2.35 million to settle a securities class action lawsuit filed by investors regarding its 2023 merger with USBTC. The lawsuit alleges that Hut 8 exaggerated the benefits of the transaction during the merger process and failed to adequately disclose operational issues with the King Mountain project in Texas. The settlement plan is still subject to approval by the U.S. District Court for the Southern District of New York. Documents show that the settlement amount represents approximately 19.6% of the plaintiffs' estimated maximum recoverable damages of $12.08 million.