Bitdeer’s Jihan Wu Takes Bitdeer to Nasdaq via SPAC Deal

The Bitdeer mining services provider became a public company through a SPAC reverse merger.

Thank you for tagging us and sharing in our excitement!
We’re honored to be listed on #NASDAQ and grateful for all the support. Here’s to an exciting new chapter! https://t.co/3CzAT1ftVI

— Bitdeer (@BitdeerOfficial) April 14, 2023

On April 14, the shares of the combined firm, named Bitdeer Technologies Group, began trading on the Nasdaq under the ticker BTDR. As of writing, their price remained above $7.

A few days earlier, Bitdeer and Blue Safari Group Acquisition Corp объявили об одобрении сделки акционерами. The new company will be led by Jihan Wu as founder and chairman.

According to the press release, the provider operates six data centres with a combined capacity of 775 MW as of the end of 2022. The firm provides services for procuring equipment for cryptocurrency mining, logistics, hosting and cloud mining.

Bitdeer announced plans to go public in November 2021.

In December 2020, the two founders of the mining hardware maker Bitmain — Jihan Wu and Micree Zhang — reached an agreement to settle the protracted dispute.

In January 2021 Wu left Bitmain, receiving $600 million in severance, along with the BTC.com mining pool and Bitdeer. Later he sold BTC.com to the online-lottery services provider 500.com Limited.

Earlier, the American blockchain-hosting provider Core Scientific went public on Nasdaq via a SPAC merger.