Deep Tide TechFlow news, on December 4, according to Cointelegraph, Bitcoin mining company Hut 8 Corp. has filed a motion to dismiss a class action lawsuit brought by its shareholders, claiming that the lawsuit was prompted by a report from short-sellers, which alleged that the company overpaid for a company with serious operational issues. Hut 8 stated that the case arose from short-sellers attempting to profit from their short positions in Hut 8 at the expense of ordinary shareholders' interests.
It is reported that J Capital Research released a report in January claiming that Hut 8 exaggerated the profitability of its acquisition of US Bitcoin Corp (USBTC), concealed operational issues at a plant in Texas, and may have hidden ownership stakes. Following the report's release, Hut 8's stock price fell by 23%, leading to multiple shareholder lawsuits in March.