Good Works Acquisition today filed a preliminary proxy outlining tems of its proposed merger with Bitcoin mining company Cipher Mining.
The combined company would have a $2 billion enterprise value.
Pending a sharteholder vote, the new company is expected to receive $595 million in cash from a combination of a $425 million fully committed stock PIPE, including a $50 million investment in-kind from Bitfury, and $170 million in cash held in Good Works’ trust. Read more.
