Bitcoin Mining Firm Bitdeer Gets Listed on Nasdaq Post SPAC Deal

• Blue Safari’s stockholders have postponed the project three times previously.
• Contrary to previous reports the revised value for the deal is $1.18 billion.

Bitdeer, a cryptocurrency miner based in Singapore, is completing a SPAC merger with Blue Safari Group Acquisition Corp. and plans to go public on April 14. The former had announced that it would begin trading on Nasdaq in November of 2021. Due to the challenging conditions brought about by the bear market, Blue Safari’s stockholders have postponed the project three times during the previous several months.

The US Securities and Exchange Commission (SEC) has confirmed that Bitdeer and Blue Safari have completed their $4 billion merger. Contrary to previous reports, a Bitdeer representative has confirmed that the revised value for the deal is $1.18 billion.

Finally Listed After Postponement

Despite the fact that Bitdeer and Blue Safari were supposed to join by the end of 2021, shareholders have postponed the SPAC merger three times due to the negative impacts of the crypto winter. Bitdeer CEO Linghui Kong called the agreement’s last phase a “significant milestone:”

Bitdeer has been lauded by Blue Safari’s chief financial officer, Naphat Sirimongkolkasem, for their “exceptional work” and “unwavering commitment to innovation.” The BTC miner, in his opinion, has a promising future.

In order to increase production and be ready for a public offering on Nasdaq, American bitcoin miner TeraWulf raised over $200 million towards the end of 2021.

In the months that followed, it merged with technology firm IKONICS Corporation and debuted on exchanges throughout the world as “WULF.”  The likes of Marathon Digital and Riot Blockchain, two market giants, have also made their stock available on public exchanges.