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Bitdeer to go public via SPAC merger valuing the bitcoin mining company at $4 billion
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Bitcoin mining company Bitdeer on Thursday announced it is going public by merging with blank-check firm Blue Safari Group Acquisition in a deal valued at $4 billion.
The Singapore-based firm plans to list on the Nasdaq after the deal closes in the first quarter of next year. The combined company will be renamed Bitdeer Technologies Group.
Upon completion, founder and chair Jihan Wu will retain control of the firm. The transaction was unanimously approved by the boards of the two companies.
Bitdeer has been ramping up operations and currently runs five mining data centers in the US and Norway. The company also provides mining-related services.
It was spun off from Chinese bitcoin mining giant Bitmain in January
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