Bitcoin Miner Bitdeer Technologies to List on Nasdaq through SPAC Deal

According to a latest submitting with the U.S. Securities and Exchange Commission (SEC), Bitdeer Technologies Holdings, a digital mining agency based by crypto-billionaire Jihan Wu in 2018, plans to be listed on Nasdaq this Friday. The bitcoin mining agency is scheduled to go public by means of a particular objective acquisition firm (SPAC) cope with Blue Safari Group, as famous within the enterprise mixture submitting.

Bitdeer to Be Publicly Listed on Nasdaq Under the Ticker Symbol BTDR

A Singaporean firm, Bitdeer Technologies Holdings, based in 2018 by former Bitmain CEO Jihan Wu, plans to go public and be listed on the Nasdaq inventory trade on April 14, 2023, in accordance with a just lately revealed filing with the U.S. Securities and Exchange Commission (SEC). The agency will use the ticker image “BTDR.” Bitdeer operates mining farms in Europe and North America and has strategic partnerships with mining swimming pools together with Btc.com, Viabtc, Foundry USA, Antpool, F2pool, and Btc.prime.

In September of final 12 months, Bitdeer established a $250 million fund to buy belongings from distressed bitcoin miners. Also in September, the corporate acquired Singapore’s Le Freeport storage facility, also referred to as “Singapore’s Fort Knox.” According to the most recent submitting with the SEC, the corporate has reached a SPAC cope with Blue Safari Group. Shareholders of Blue Safari accredited the deal at a rare basic assembly on April 11, 2023.

“Today marks a major milestone for Bitdeer, leaving us poised to checklist on the Nasdaq and outfitted to grab the expansion alternatives forward of us,” Linghui Kong, the CEO of Bitdeer mentioned in an announcement. “I’m extremely happy with what we’ve got achieved up to now, and stay up for embarking on the subsequent chapter of our journey. We are already a number one hash price provider, and our public itemizing will permit us to make even higher contributions to the crypto economic system.”

Since 2021, publicly listed bitcoin mining firms have turn into a fixture on conventional inventory exchanges. However, many of those corporations skilled vital declines of their shares throughout 2022. In distinction, 2023 has been a greater 12 months for bitcoin mining firms, as the worth of bitcoin (BTC) has risen 80% because the final day of December and 36.3% during the last 30 days. Over the previous week, shares of publicly listed bitcoin mining corporations equivalent to Riot Blockchain, Bitfarms, Marathon Digital, and Cleanspark have elevated in worth towards the U.S. greenback.

What do you consider the latest surge in bitcoin costs and its influence on the publicly listed bitcoin mining corporations? Do you assume Bitdeer Technologies Holdings’ determination to go public through SPAC cope with Blue Safari Group is a clever transfer? Share your ideas within the feedback part beneath.