Blue Safari Group Acquisition in an 8-K filing included an investor presentation highlighting its proposed merger with Bitdeer Technologies, a cryptocurrency tech company. The deal values Bitdeer at an implied enterprise value of $4 billion.
Headquartered in Singapore, Bitdeer currently operates five proprietary mining datacenters in the United States and Norway.
If approved, the renamed Bitdeer Technologies Group would list on the Nasdaq. The deal is expected to close in the first quarter.
Blue Safari raised $50 million in a June IPO. The transaction appears to be a straight stock swap with no mention of supplemental funding, such as a PIPE. Read more.
