$2 Billion Merger: Bitcoin Miner Cipher Going Public Backed by Fidelity and M...
Cipher Mining, a bitcoin mining operation of Bitfury, has announced that it is going public via a merger with a special purpose acquisition company (SPAC). The deal values the combined company at $2 billion, with funding from investors such as Morgan Stanley and Fidelity. Cipher Mining Technologies Inc., a newly formed U.S.-based bitcoin mining operation of Bitfury, announced Friday it will go public through a merger with Good Works Acquisition Corp. (Nasdaq: GWAC). The transaction is expected to close in the second quarter. According to Cipher Mining, the deal values the combined....
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Bitcoin mining firms, even the newly-established ones, seem to be increasingly pursuing public listings. Cipher Mining Technologies Inc. a subsidiary of blockchain development firm Bitfury has inked a $2 billion merger deal with Nasdaq-listed Good Works Acquisition Corp — a special purpose acquisition company, or SPAC. Both companies have entered into a business combination agreement.According to a press release issued on Friday the merger will see Bitfury’s U.S. Bitcoin (BTC) mining enterprise become a publicly-listed company under the banner Cipher Mining Inc.In addition to the combined....
Bitfury subsidiary Cipher Mining Technologies is merging with Global Acquisition Group and going public on Nasdaq.
The American Bitcoin mining outfit plans to acquire a total of 28,000 to 56,000 next-generation mining rigs. According to a Form 8-K filing with the United States Securities and Exchange Commission (SEC) on Monday, Cipher Mining will purchase 28,000 to 56,000 next-generation Bitcoin mining hardware from Bitfury at a cost of $6,250 per rig.At a maximum cost of $6,250 per machine, Cipher’s Bitcoin mining hardware outlay could go between $175 million and $350 million, depending on whether the company elects to receive all 56,000 rigs as stated in the purchase agreement.The total inventory....
The merger could result in a valuation of the two firms at roughly $1.5 billion following a $150 million fundraising round from 10X Capital Venture. Prime Blockchain, also known as PrimeBlock, is reportedly preparing for a public offering in the United States through a special-purpose acquisition company, or SPAC. In a Thursday report, Bloomberg said Bitcoin (BTC) mining firm PrimeBlock is currently discussing going public in the U.S. through a merger with 10X Capital Venture Acquisition Corp II. Though the terms of the deal are reportedly not yet finalized, the merger could result in a....
The Cincinnati-based miner is expected to list on the NYSE under the ticker symbol GRDI in a SPAC deal with Adit EdTech to close in Q1 2022.