Bitcoin mining company PrimeBlock to go public via $1.25B SPAC merger

Bitcoin mining company PrimeBlock to go public via $1.25B SPAC merger

The company forecasts it will generate up to $98 million in annual revenue. On Friday, Bitcoin (BTC) mining company PrimeBlock announced that it is merging with special purpose acquisition vehicle (SPAC) company 10X Capital Venture Acquisition Corp II. The deal places PrimeBlock at an enterprise value of $1.323 billion and is expected to close in the second half of the year.The company has installed 1.8 exahash per second of BTC self-mining equipment, accounting for approximately 0.89% of the Bitcoin network's overall hash rate. According to PrimeBlock, its break-even price for mining is....


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