Bitcoin Miner Bitdeer Technologies to List on Nasdaq via SPAC Deal

According to a recent filing with the U.S. Securities and Exchange Commission (SEC), Bitdeer Technologies Holdings, a digital mining firm founded by crypto-billionaire Jihan Wu in 2018, plans to be listed on Nasdaq this Friday. The bitcoin mining firm is scheduled to go public through a special purpose acquisition company (SPAC) deal with Blue Safari Group, as noted in the business combination filing.

A Singaporean company, Bitdeer Technologies Holdings, founded in 2018 by former Bitmain CEO Jihan Wu, plans to go public and be listed on the Nasdaq stock exchange on April 14, 2023, according to a recently published filing with the U.S. Securities and Exchange Commission (SEC). The firm will use the ticker symbol “BTDR.” Bitdeer operates mining farms in Europe and North America and has strategic partnerships with mining pools including Btc.com, Viabtc, Foundry USA, Antpool, F2pool, and Btc.top.

In September of last year, Bitdeer established a $250 million fund to purchase assets from distressed bitcoin miners. Also in September, the company acquired Singapore’s Le Freeport storage facility, also known as “Singapore’s Fort Knox.” According to the latest filing with the SEC, the company has reached a SPAC deal with Blue Safari Group. Shareholders of Blue Safari approved the deal at an extraordinary general meeting on April 11, 2023.

“Today marks a significant milestone for Bitdeer, leaving us poised to list on the Nasdaq and equipped to seize the growth opportunities ahead of us,” Linghui Kong, the CEO of Bitdeer said in a statement. “I am incredibly proud of what we have achieved so far, and look forward to embarking on the next chapter of our journey. We are already a leading hash rate supplier, and our public listing will allow us to make even greater contributions to the crypto economy.”

Since 2021, publicly listed bitcoin mining companies have become a fixture on traditional stock exchanges. However, many of these firms experienced significant declines in their shares during 2022. In contrast, 2023 has been a better year for bitcoin mining companies, as the price of bitcoin (BTC) has risen 80% since the last day of December and 36.3% over the last 30 days. Over the past week, shares of publicly listed bitcoin mining firms such as Riot Blockchain, Bitfarms, Marathon Digital, and Cleanspark have increased in value against the U.S. dollar.

What do you think about the recent surge in bitcoin prices and its impact on the publicly listed bitcoin mining firms? Do you think Bitdeer Technologies Holdings’ decision to go public via SPAC deal with Blue Safari Group is a wise move? Share your thoughts in the comments section below.