According to recent filings with the US Securities and Exchange Commission (SEC), digital mining company Bitdeer Technologies, founded in 2018 by crypto billionaire Jihan Wu Holdings, is expected to list on NASDAQ this Friday. The bitcoin mining company will list through a special purpose acquisition company (SPAC) transaction with Blue Safari Group, as stated in the business combination filing.
Bitdeer, listed on NASDAQ (ticker symbol: BTDR)
A Singapore-based company,Bitdeer Technologies Holdingswas founded in 2018 by former Bitmain CEO Jihan Wu and plans to go public and list on the NASDAQ Stock Exchange on April 14, 2023, according to afilingrecently released to the U.S. Securities and Exchange Commission. The company will use the ticker symbol “BTDR. “Bitdeer operates mining farms in Europe and North America and has strategic partnerships with mining pools such as Btc.com, Viabtc, Foundry USA, Antpool, F2pool, Btc.top Btc.top.
Last September, Bitdeer established a $250 million fund to purchase assets from distressed bitcoin miners. Also in September, the company acquired Le Freeport, a Singapore-based storage facility also known as the “Fort Knox of Singapore,” and in its latest filing with the SEC, the company agreed to a SPAC deal with the Blue Safari Group. Blue Safari shareholders approved the transaction at a special meeting on April 11, 2023.
“Today, BitDia has reached an important milestone and is poised to list on NASDAQ and seize the growth opportunities ahead,” saidLinghui Kong, CEO of Bitdeer, said in a statement:” I am extremely proud of what we have accomplished so far and look forward to embarking on the next chapter of our journey. We are already a leading supplier of hashrate and going public will enable us to make further contributions to the crypto economy.”
After 2021, publicly traded bitcoin mining companies have become a fixture on traditional stock exchanges. However, many of these companies experienced significant stock market declines in 2022. In contrast, 2023 has been a good year for bitcoin mining companies, with the price ofbitcoin (BTC)up 80% since the end of December and 36.3% over the past 30 days. Over the past week, shares of listed bitcoin mining companies such as Riot Blockchain, Bitfarms, Marathon Digital, and Cleanspark have increased in value against the US dollar.
What do you think about the recent surge in bitcoin prices and its impact on listed bitcoin mining companies? Do you think that Bitdeer Technologies Holdings’ decision to list in the SPAC deal with Blue Safari Group was a wise move? Share your thoughts in the comments section below.
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