Hut 8 Securities Settlement (HUT)

Only merger-traceable shares pay. The settlement class period runs from February 13, 2023 through January 18, 2024, but the plan of allocation pays on only two kinds of shares: Hut 8 Corp. common stock you received in exchange for US Bitcoin Corp (USBTC) capital stock when the merger closed on November 30, 2023, and Hut 8 common stock you bought on the open market in the United States or on a U.S. exchange between December 4, 2023 and January 18, 2024. Everything else acquired in that eleven-month class period has a recognized loss of $0.00 — including the Hut 8 shares issued to Legacy Hut (Hut 8 Mining Corp.) shareholders in the merger, and any shares bought during the class period but sold before the merger closed. You also must have sold at a loss before June 14, 2024: every eligible share held through the opening of trading that day has a recognized loss of $0.00, because HUT closed at $11.28 that day against the $9.50 merger-date value the formula uses. Payment is pro rata and small. The Notice estimates an average of about $0.07 a share before Court-approved fees and about $0.04 a share after them, and nothing is paid to a claimant whose share would come to less than $10.00. The settlement is not yet final — the Court holds its approval hearing on November 6, 2026, which is before the December 5, 2026 claim deadline, and no payment date has been announced.

Do I Qualify?

You may be eligible if:

• WHO IS IN THE CLASS: all persons and entities that purchased or otherwise acquired Hut 8 Corp. securities in the United States or on an exchange based in the United States between February 13, 2023 and January 18, 2024, inclusive, and were allegedly damaged. Being in the class is what binds you to the release. It is not the same thing as being owed money, and on this settlement the two groups are very different sizes.
• WHAT ACTUALLY PAYS — TWO CATEGORIES OF SHARE, AND ONLY TWO: (i) Hut 8 common stock issued to you in exchange for USBTC capital stock when the merger closed on November 30, 2023; and (ii) Hut 8 common stock you purchased on the open market in the United States or on a U.S. exchange from December 4, 2023, the first day the combined company traded, through January 18, 2024. The paying window is roughly six weeks of an eleven-month class period.
• LEGACY HUT 8 MINING SHAREHOLDERS ARE OWED $0: the Hut 8 Corp. shares issued to holders of Legacy Hut (Hut 8 Mining Corp.) securities in the merger were not issued under the merger registration statement, so footnote 6 of the Notice gives them no recognized loss at all. If your only Hut 8 Corp. shares came from the Legacy Hut side of the merger, you are inside the class and owed nothing. Shares you later bought on a U.S. exchange between December 4, 2023 and January 18, 2024 are treated like anyone else's open-market purchase.
• SOLD BEFORE THE MERGER CLOSED: $0. Footnote 6 also excludes shares purchased during the class period that were sold before the November 30, 2023 completion of the merger. A February-to-November 2023 buy-and-sell pays nothing.
• STILL HOLDING YOUR SHARES: $0. Every eligible share held through the opening of trading on June 14, 2024 has a recognized loss of $0.00. June 14, 2024 is the date the Securities Act claims were first alleged in the case, and HUT closed at $11.28 that day, above the $9.50 merger-date value the formula credits. You must have sold at a loss before that date to be owed anything.
• TORONTO STOCK EXCHANGE PURCHASES ARE OUTSIDE THE CLASS: HUT traded on both the Nasdaq Capital Market and the Toronto Stock Exchange throughout the class period, but the class reaches only securities acquired in the United States or on a U.S.-based exchange. A TSX purchase does not count.
• EXCLUDED FROM THE CLASS: the defendants, the officers and directors of Hut 8 at all relevant times, members of their immediate families and their legal representatives, heirs, successors and assigns, any entity in which a defendant has or had a controlling interest, and anyone who files a timely and valid request for exclusion. Separately, the roughly 10 million merger shares issued to USBTC insiders sit outside the damages expert's 34.23 million-share estimate.
• NO MINIMUM SHARE COUNT TO FILE, BUT A $10.00 PAYMENT FLOOR: nothing is distributed to an authorized claimant who would otherwise receive less than $10.00. Measured against the Notice's own estimate of roughly $0.04 a share after fees, that floor quietly rules out small positions.

No notice ID, claim number or PIN is needed, but every transaction you list has to be documented. Part II of the Proof of Claim and Release form, the Schedule of Transactions in Hut 8 Common Stock, asks for the number of Hut 8 shares you received in exchange for USBTC stock, the number you received for Legacy Hut securities, and all of your purchases, acquisitions, sales and tenders, cancellations or exchanges of Hut 8 common stock at the relevant times — whether or not the transaction left you with a profit or a loss. The Notice warns that failing to report all such transactions may result in the rejection of your claim. Copies of broker confirmations or other documentation of those transactions must be attached, and the Notice states that failing to provide that documentation could delay verification of your claim or result in its rejection. Representative filers submitting claims for multiple accounts must use the administrator's electronic spreadsheet template, must contact Strategic Claims Services first to obtain the required file layout, and must also mail a signed paper Claim Form with proof of their authority. If you are not a representative filer you do not need to contact the administrator before filing, but the administrator may still ask for a spreadsheet if your claim covers a large number of transactions.

What Happened?

Hut 8 Corp. was formed on November 30, 2023, when Hut 8 Mining Corp. (Legacy Hut) and U.S. Data Mining Group, doing business as US Bitcoin Corp (USBTC), merged. In re Hut 8 Corp. Securities Litigation, No. 1:24-cv-00904-VM, alleges that the registration statement and prospectus for that merger, and other public statements, misrepresented energy and internet problems at the King Mountain joint venture, a digital asset mining site USBTC had brought into the deal.

On September 12, 2025 the court dismissed the Securities Exchange Act claims and the claims about USBTC's pre-merger financial condition, and allowed Securities Act claims over two King Mountain statements to go forward. That ruling is the reason the payout rules are so narrow: under the Securities Act only shares traceable to the registration statement can recover, and once the merger closed the registered USBTC shares and the unregistered Legacy Hut shares were commingled in the market. The defendants' position was that no open-market purchaser could trace at all and so none was entitled to any recovery.

The parties signed the Stipulation and Agreement of Settlement on June 18, 2026, and Judge Victor Marrero of the U.S. District Court for the Southern District of New York granted preliminary approval on July 8, 2026. Hut 8 and four individual defendants will pay $2,350,000 into an escrow account at Huntington National Bank. The defendants deny all allegations of wrongdoing, fault and liability, and no court has found that they did anything wrong.

Paragraph 13 of the Stipulation states that this is not a claims-made settlement and that the defendants have no right to the return of the settlement fund. Any balance left at least six months after the initial distribution is redistributed to claimants who cashed their checks, and once further distribution is no longer feasible or economical the remainder goes to a private, non-profit organization rather than back to Hut 8.

How to File Your Claim

1. File online through the official Strategic Claims Services case page at www.strategicclaims.net/Hut8, which redirects to www.strategicclaims.net/case/hut8/, by 11:59 p.m. EST on December 5, 2026 — filing is free
2. Paper alternative: mail the completed and signed Proof of Claim and Release form, together with all documentation requested in the form, postmarked no later than December 5, 2026, to In re Hut 8 Securities Litigation, c/o Strategic Claims Services, 600 N. Jackson Street, Suite 205, P.O. Box 230, Media, PA 19063
3. Complete Part II, the Schedule of Transactions in Hut 8 Common Stock, with all of your purchases, acquisitions, sales, tenders, cancellations and exchanges of Hut 8 common stock at the relevant times, and attach copies of broker confirmations or other transaction records
4. Representative filers must contact info@strategicclaims.net or (866) 274-4004 for the required electronic spreadsheet file layout before filing, and must also mail a signed paper Claim Form with proof of authority
5. Mark a separate, earlier date: requests for exclusion and objections, including any request to speak at the November 6, 2026 hearing, must be received by October 16, 2026 — seven weeks before the claim deadline. Opting out means you cannot receive a payment
6. Questions: Strategic Claims Services, toll-free (866) 274-4004, info@strategicclaims.net
7. Visit the official claim form: https://www.strategicclaims.net/case/hut8/

How Much Will I Actually Get?

ONE PRO RATA ROUTE FROM A $2,350,000 FUND. Hut 8 and four individual defendants will pay $2,350,000 into escrow. There is a single payment route and no election to make: each authorized claimant receives the share of the net settlement fund that their recognized loss represents out of the total recognized losses of all authorized claimants. HOW A RECOGNIZED LOSS IS CALCULATED, PER ELIGIBLE SHARE: for each share sold before June 14, 2024, the recognized loss is the lesser of the purchase price and $9.50, minus the sale price. For each share held through the opening of trading on June 14, 2024, the recognized loss is $0.00. A negative result is set to zero, so a share sold above its capped cost pays nothing. Purchase and sale prices exclude fees, taxes and commissions, and a trade executed outside regular U.S. trading hours counts as occurring in the next regular session. The recognized loss on a short sale is zero. THE $9.50 CAP APPLIES TO THE PURCHASE SIDE ONLY, NOT TO THE SETTLEMENT AS A WHOLE: $9.50 was HUT's closing price on November 30, 2023, the merger date. It caps what the formula will credit you for having paid, and it does not cap what it credits you for selling. Someone who paid $12.00 and sold at $8.00 has a recognized loss of $1.50, not the $4.00 actually lost. WHAT THE PER-SHARE ESTIMATES MEAN: the Notice says that based on the plaintiff's consulting damages expert's estimate of approximately 34.23 million affected shares, and assuming every class member participates, the estimated average recovery is approximately $0.07 per share before Court-approved fees, expenses and costs, and approximately $0.04 per share after them. The Notice states plainly that this is not an estimate of the actual recovery per share you should expect. A $10.00 FLOOR: no distribution is made to an authorized claimant who would otherwise receive less than $10.00. Any later second distribution likewise reaches only claimants who cashed their first check and who would receive at least $10.00 in that second round. WHAT COMES OUT OF THE FUND FIRST, AND WHY TWO OF THESE CAPS COVER ONE LINE ITEM EACH: Pomerantz LLP, with Bronstein, Gewirtz & Grossman LLC, will ask the Court for attorneys' fees of up to 33.3% of the settlement amount plus interest, payment of up to $150,000 in litigation expenses plus interest, and a compensatory award to the plaintiff of no more than $10,000. The $150,000 and the $10,000 are ceilings on those two items alone. Neither is a cap on total deductions, and both sit on top of the separate fee request. Notice and administration expenses and taxes on interest also come out of the fund before anything is distributed.

Last reviewed: October 4, 2026 | Information verified from court records and official settlement documents.

Frequently Asked Questions