Bitcoin Mining Operator SAITECH Merging with TradeUP Global in $228M Deal

SAITECH Limited, a Eurasia-based energy saving bitcoin mining operator plans to combine with TradeUP Global at a pro forma equity value of $228 million.

If the deal is approved, SAITECH would list on the Nasdaq under SAI.  The company generated revenue of approximately $8 million in the first half of 2021, according to a news release.

Estimated cash proceeds from the transaction are expected to consist of TradeUP Global’s $44.9 million of cash in trust (assuming no redemptions). Read more.

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