- Bitdeer signed a merger agreement with Blue Safari Group Acquisition Corporation
- The merged corporation will retain its ticker symbol, BSGA on the NASDAQ stock exchange
- Creator and Chairman of Bitdeer, Jihan Wu will continue to lead the combined organization
Singapore-Based Bitcoin mining firm, Bitdeer Technologies Holding Company has made an announcement that the company signed the definitive merger agreement with Blue Safari Group Acquisition Corporation.
As per the announcement, The two firms plan to merge and be renamed Bitdeer Technologies Group which will be a public company in the NASDAQ stock market listing.
Bitdeer is a leading crypto firm, which mostly focuses on the cryptocurrency mining industry. At present, The company has five data-mining centers in the United States and Norway.
As the company has a great capability of crypto mining, It considers itself as a potential disruptor in the cryptocurrency mining sector. The Chairman and creator of Bitdeer, Jihan Wu will continue to lead the combined organization following the conclusion of the transaction.
Jihan Wu stated that “As a leader in crypto mining, we will continue to solidify our leading position in the crypto mining space. Today marks a significant milestone for Bitdeer, and we strive to create value for our broader group of stakeholders in the future, including our clients, employees, and shareholders.”
Following the transaction, Bitdeer will have a worth of $4 billion market value. The merger has been approved by the boards of directors of both companies and the total merge completion is expected in the first quarter of 2022.