Bitdeer announced the merger with a SPAC-company Blue Safari Group Acquisition Corp. The shares of the merged entity, named Bitdeer Technologies Group, will trade on NASDAQ.
Bitdeer’s valuation was around $4 billion. The deal has been approved by the boards of directors of the two companies, and is expected to close in the first quarter of 2022.
The firm will be led by Jihan Wu as founder and chair of Bitdeer.
The company operates five data centres in the United States and Norway and provides equipment procurement for cryptocurrency mining, logistics, hosting and cloud mining services.
In December 2020, two founders of the Bitmain mining hardware maker, Jihan Wu and Micree Zhang reached an agreement to settle the longstanding dispute.
In January Wu left Bitmain, receiving $600 million as severance, the BTC.com mining pool and Bitdeer.
Earlier, in February he sold BTC.com to the online lottery services provider 500.com Limited.