Bloomberg reports Bitdeer, led by Jihan Wu, acquires Le Freeport storage in Singapore for $28 million

Bitdeer, a mining-services provider, has acquired the Le Freeport storage facility in Singapore. The deal was worth 40 million SGD ($28.4 million), Bloomberg reports, citing sources.

Le Freeport (formerly Singapore Freeport) is located near Changi Airport. It was modelled after facilities in Geneva and Luxembourg. The concept of a freeport is the storage of valuables and goods deemed transitory and therefore not subject to taxes and duties.

According to the publication, the deal closed in July. The interlocutors described the transaction as private.

Bitdeer chief executive Jihan Wu confirmed the acquisition of Le Freeport in response to Bloomberg’s inquiry.

The provider operates data centres in the United States and Norway and offers services for procuring equipment for cryptocurrency mining, logistics, hosting, and cloud mining.

In December 2020, Bitmain founders Jihan Wu and Micree Zhang reached an agreement to settle a lengthy feud.

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

In the autumn of the same year Bitdeer announced a merger with SPAC-company Blue Safari Group Acquisition Corp.

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