Share this article
Bitcoin Miner PrimeBlock Cancels Listing Plans, Terminates $1.25B Merger With 10X Capital
The two firms terminated their agreement, which would have allowed Prime Blockchain to go public, by mutual consent on Aug. 12
Updated May 11, 2023, 6:53 p.m. Published Aug 16, 2022, 10:49 a.m.
Bitcoin mining company PrimeBlock has ended its plans to go public via a merger with blank check company 10X Capital Venture Acquisition (VCXA).
- The two firms terminated their agreement by mutual consent on Aug. 12, according to a U.S. Securities and Exchange Commission filing.
- Plans for the listing were confirmed in April with expectations that the merger would be completed in the second half of 2022 carrying an enterprise value of $1.25 billion.
- No official reason has been given for the decision, but the uncertain conditions in both the crypto and mainstream markets in recent months may have been a factor.
- Special-purpose acquisition company deals have been a prevalent means for crypto companies to access public stock markets in recent years, but their attraction has cooled following the downturn in digital asset markets.
- In July, trading platform eToro's planned public listing via a $10.4 billion merger with FinTech Acquisition Corp. V was terminated with Fintech Chairman Betsy Cohen saying it had become "impracticable."
Read more: Crypto SPACs Brace for Cruel Summer With Lower Valuations, SEC Scrutiny
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Turkey's Paribu Buys CoinMENA in $240M Deal, Expanding Into High-Growth Crypto Markets
With the acquisition, Paribu gains regulatory foothold in Bahrain and Dubai and access to the region's fast-growing crypto user base.
What to know:
- Paribu acquires Bahrain- and Dubai-based CoinMENA for up to $240 million.
- Deal marks Turkey’s biggest fintech acquisition and first international crypto M&A, the firm said.
- The move taps into the MENA region’s fast-growing crypto user base and supportive regulatory hubs.
Top Stories
