Cryptocurrency Mining Firm Bitdeer Secures $ 4 Billion SPAC Deal

A leading tech company helping the cryptocurrency mining community will go public with a SPAC deal announced Thursday.

The SPAC deal: Bitdeer, which operates five proprietary mining data centers in the United States and Norway, announced a merger with Blue Safari Group Acquisition Corp (NASDAQ: BSGA). The merger gives Bitdeer an enterprise value of $ 4 billion. The company plans to list as Bitdeer Technologies Group on the Nasdaq with a ticker to be announced. The deal is expected to close in the first quarter of 2022.

About Bitdeer: Based in Singapore, Bitdeer is a company dedicated to helping the cryptocurrency mining community. Services provided include mining procurement, transportation logistics, mining data center design and construction, mining machine management, and day-to-day operations.

The management team has extensive experience in the cryptocurrency space, according to the press release. As a leader in cryptocurrency mining, we will continue to consolidate our leadership position in the cryptocurrency mining space,” said Bitdeer Chairman Wu Jihan.

Bitdeer recently announced a press release announcing support for Filecoin, which named the company the “world’s leading digital asset mining and cloud services platform.” The company works with more than 3 million users in 200 countries, according to the statement.

Related Link: SPAC Merger Calendar for November: Upcoming Votes, Earnings, Actions to Watch Future Growth: Going public will help the company “serve the cryptocurrency mining community by providing innovative, reliable, and easy-to-use cryptocurrency mining solutions.”

Blue Safari said they are taking Bitdeer public because they see that the company is a leader in the sector. Bitdeer is the world’s first mining rig to have a base hashrate capacity rate of 1TB, according to a press release. The company offers support for more than 10 cryptocurrencies and has plans to add more in the future.

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