Bitdeer, a outstanding Bitcoin (BTC) miner, has introduced its acquisition of Desiweminer, a designer of chips for ASIC mining machines, in a major all-stock transaction valued at $140 million. This strategic transfer goals to bolster Bitdeer’s capabilities in ASIC chip design and improve its place within the aggressive cryptocurrency mining trade.
In accordance with the announcement made on Thursday, Bitdeer will purchase all excellent shares of Desiweminer for a consideration of 20 million Class A abnormal BTDR shares. The transaction is topic to customary closing situations, signaling the fruits of negotiations between the 2 entities.
As a part of the acquisition, the Desiweminer group will combine with Bitdeer’s ASIC design group primarily based in Singapore. This collaboration is anticipated to result in the event of progressive merchandise that leverage the mixed experience and applied sciences of each firms. These new choices are set for rapid launch, highlighting the swift integration efforts underway.
Bitdeer’s acquisition of Desiweminer comes shortly after receiving a considerable funding of $150 million from stablecoin firm Tether on the finish of final month. This injection of funds underscores Bitdeer’s dedication to increasing its operations and investing in strategic partnerships to drive development within the evolving cryptocurrency market panorama.
Following the announcement, BTDR shares skilled a modest uptick, rising 0.54% to $7.05 in pre-market buying and selling. This response signifies preliminary market confidence within the potential synergies and worth creation anticipated from the acquisition deal.
Total, Bitdeer’s acquisition of Desiweminer represents a strategic maneuver to strengthen its place within the aggressive ASIC chip design market and reinforce its presence within the quickly evolving cryptocurrency mining sector.
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