Bitcoin miner to be made public on Nasdaq after PSPC’s $ 4 billion merger

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Bitdeer Technologies Holding Company, a Singapore-based Bitcoin (BTC) mining company, announced that it has entered into a definitive merger agreement with Blue Safari Group Acquisition Corp. for a business combination of Blue Safari and the miner.

According to the announcement, the two companies are expected to merge and be renamed Bitdeer Technologies Group, retaining their NASDAQ listing.

Bitdeer is a Singapore-based company that focuses on the cryptocurrency mining industry. The Bitcoin mining company currently has five proprietary mining data centers in the United States and Norway.

According to the announcement, the transaction positions Bitdeer as a potential disruptor in the cryptocurrency mining sector. As chairman and creator of Bitdeer, Jihan Wu will continue to lead the combined organization after the transaction closes. While commenting on the transaction, Wu expressed his enthusiasm for bringing the two organizations together. He further added:

“As a leader in crypto mining, we will continue to consolidate our leadership position in crypto mining. Today marks a milestone for Bitdeer, and we strive to create value for our larger group. stakeholders in the future, including our customers, employees and shareholders. “

The announcement claims that as a result of the transaction, Bitdeer has an implied enterprise value of around $ 4 billion. The proposed merger has been approved by the boards of directors of both companies and is expected to be completed in the first quarter of 2022, subject to regulatory clearances, shareholder approval for the transaction and other customary closing conditions.

Related: Industrial Bitcoin Mining Brings New Life To Small Texas Town

The transaction is another example of a large firm entering the Bitcoin mining space since Greenidge announced its merger agreement with customer and technical support solutions provider Support.com on September 13.

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