Hut 8 Responds to Short Seller Report Accusing Bitcoin Miner of Malpractice

Hut 8, a Bitcoin miner, has responded to a recent report from JCapital Research that accused the company of malpractice. In their statement, Hut 8 expressed confidence in their partnership with USBTC and stated that they would provide any necessary updates regarding the allegations. They also highlighted their trust in the current management team and the board of directors, emphasizing that the merger with USBTC would bring growth for all shareholders. In the report, JCapital Research alleged that Hut 8 was involved in a pump-and-dump scheme and had hidden stock ownership. They also claimed that the company had inherited a large debt from the merger and that USBTC was facing bankruptcy before the deal. As a result of the report, Hut 8’s stock price fell by 23.49%, but some users in the crypto community remain supportive of the company’s expansion plans.