Bitdeer Technologies, a Singapore-based crypto mining firm, has announced a merger with Blue Safari Group Acquisition Corp., a blank-cheque company, in order to go public in the United States.
Bitdeer is valued at almost $4 billion in the acquisition.
The merged firm will be called Bitdeer Technologies Group and will continue to be traded on the NASDAQ.
The acquisition is scheduled to close in Q1 2022, subject to regulatory clearances and other factors.
“As a leader in crypto mining, we will continue to solidify our leading position in the crypto mining space. Today marks a significant milestone for Bitdeer, and we strive to create value for our broader group of stakeholders in the future, including our clients, employees, and shareholders,” founder and chairman Jihan Wu said.
Bitdeer offers its customers complete digital asset mining solutions. It manages complicated mining processes such as miner procurement, logistics, data center design and construction, mining machine management, and day-to-day operations.
In the United States and Norway, the company now maintains five proprietary mining datacenters.
Blue Safari sees the relationship as a chance to engage in fintech, IT, and business services, among other fields. Wu will continue to lead the merged firm when the acquisition is completed.
Naphat Sirimongkolkasem, CFO and director of Blue Safari, stated, “The crypto mining space has attracted tremendous attention in recent years, and Bitdeer’s innovative platform has propelled it into the limelight among the most illustrious players in the sector.”
BSG First Euro Investment Corp., a British Virgin Islands business, sponsors Blue Safari Group Acquisition Corp., a special purpose acquisition company. It was founded to achieve a merger, stock exchange, asset purchase, reorganization, or other similar corporate combination with one or more firms or entities.
