Share this article
Bitcoin Miner Bitdeer to Go Public With SPAC Merger; Deal Values Company at Around $4B
The combined company will be renamed to Bitdeer Technologies Group and remain listed on Nasdaq.
Updated Apr 10, 2024, 2:25 a.m. Published Nov 18, 2021, 11:41 a.m.
Bitdeer Technologies, which operates five cryptocurrency mining data centers in the U.S. and Norway, announced its merger with special purpose acquisition company (SPAC) Blue Safari Group Acquisition Corp. on Thursday.
- The deal values Bitdeer at an implied enterprise value of approximately $4 billion and was unanimously approved by the boards of both companies, the release said.
- In addition to its mining centers, Bitdeer provides tech and mining services for bitcoin miners including miner procurement, transport logistics, mining datacenter design and construction, mining machine management and daily operations.
- The combined company will be renamed Bitdeer Technologies Group and will remain a publicly listed company on the Nasdaq.
- Following the deal’s completion, expected in the first quarter of next year, the merged firm will be led by Jihan Wu, chairman and founder of Bitdeer.
- Bitdeer was spun off earlier this year by mining chip and equipment maker Bitmain, which Wu co-founded and served as chairman and CEO. The spin-off resolved a long power struggle between Wu and Bitmain’s other co-founder, Micree Zhan.
- A SPAC is a company without commercial operations. It is designed to raise capital via an initial public offering and then acquire or merge with existing companies. In Blue Safari’s case, the company was focused on opportunities in Asia.
Read more: What Is a SPAC? Your Questions Answered
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
Tom Lee's BitMine Immersion Ramps Up Ether Acquisition, Adding $435M of ETH to Treasury
This was the firm's largest weekly haul in more than a month; the company also increased its cash holdings to $1 billion.
What to know:
- BitMine Immersion Technologies, the largest Ethereum treasury firm, bought 138,452 tokens last week, increasing its total holdings to 3.86 million ETH.
- The firm's latest purchase is valued at approximately $435 million, marking its largest weekly acquisition in at least a month.
- Chairman Thomas Lee cited Ethereum's Fusaka upgrade and macroeconomic factors as reasons for the firm's increasing the pace of its accumulation strategy.
Top Stories
