- Bitdeer Technologies Holding Company has plans to go public on NASDAQ
- To go live the crypto mining firm entered into a definitive merger agreement with Blue Safari Group Acquisition Corporation
- After merge both the firms will be renamed as Bitdeer Technologies Group, which Jihan Wu will continue to lead
Bitdeer Technologies Holding Company is a Bitcoin mining firm headquartered in Singapore. The world-leading firm also offers an all-in-one crypto cloud mining service platform, that is one of the most convenient ways for users to enter the hashrate ecosystem. Recently it was announced that the firm has plans to go public on NASDAQ Stock Exchange. Notably, to go live the crypto mining firm entered into a definitive merger agreement with Blue Safari Group Acquisition Corporation. Hence, the coalition combines the business of Blue Safari Group and the Bitcoin miner.
Bitdeer plans to go public after $4bn SPAC merger
Bitdeer, a world leading cryptocurrency firm for crypto mining, based in Singapore went live on NASDAQ. It is worth noting that the cryptocurrency mining corporation currently has five proprietary mining data centers in the United States and Norway. While merging its business with Blue Safari Group, the firms will go public with the ticker symbol “BSGA”. According to the official press release, it is revealed that both the firms are expected to merge and be renamed Bitdeer Technologies Group, retaining the NASDAQ stock market listing.
Jihan Wu will lead the blended organization
Jihan Wu, the chairman and founder of Bitdeer will continue to lead the blended corporations. According to the official announcement, the recent merger positions the mining firm as a potential disruptor in the digital assets mining industry. Hence, following the conclusion of the transaction, Wu will continue to solidify their leading positions in the industry.
Wu further expressed his excitement about the merger and cited that as the leader in the digital assets mining sector they will continue to solidify their leading position in the crypto assets mining world. Hence, he also considered that the merger makes a significant milestone for Bitdeer, and the team strives to create value for their broader group of stakeholders in the future while including their clients, employees, and shareholders.
Merger will accomplish by Q1 2022
According to the announcement, it is claimed that following the merger’s transaction, bitdeer will have an implied corporate value of approximately $4 billion. It is noteworthy that the proposed merger has been approved by the boards of directors of both the mining firm and the Blue Safari Group. However, it has been anticipated that the merging will be completed in the first quarter of 2022, after being a subject to regulatory clearances, shareholder approval for transaction and other customary closing conditions met. It is incredible to witness that the transaction is yet another instance of a large institution entering the crypto mining industry.