Bitdeer Cloud Mining Platform Goes Public In SPAC Deal

Bitdeer Cloud Mining Platform Goes Public In SPAC Deal

The company's value after the transaction is estimated at $ 4 billion.

Cryptocurrency mining service Bitdeer has announced a NASDAQ stock listing through a merger with a specialized mergers and acquisitions company (SPAC).

  • The platform will merge with the Blue Safari Group Acquisition. The deal is expected to close in the first quarter of 2022.
  • The deal is valued at $ 4 billion, Bitdeer said.
  • Bitdeer platform was created in 2018 and is located in Singapore. Mining data centers are located in the United States and Norway. Bitdeer leases its cryptocurrency mining facilities to companies and individuals. The lease term can be from 2 to 12 months. In the future, the company plans to extend the lease term to unlimited.
  • In April, the mining platform received a $ 12 million grant from Chinese internet company Genimous, according to Crunchbase.

Recall that bitcoin miner Iris Energy also plans to enter NASDAQ. The American Stronghold Digital Mining recently held an IPO. It became the first US crypto mining company to go public on an initial public offering rather than a merger with SPAC.