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News

BitDeer Acquires ASIC Designer Desiweminer In A Monumental $140M Deal

June 6, 2024 - Around 2 mins mins to read

Key Points:

  • BitDeer acquires Desiweminer for $140 million.
  • Desiweminer’s team will merge with BitDeer’s Singapore team.
  • The deal follows BitDeer’s $150 million investment from Tether.
BitDeer acquires ASIC designer Desiweminer in a $140M all-stock deal. Post-acquisition, both teams will integrate, promising innovative products.
BitDeer Acquires ASIC Designer Desiweminer In A Monumental $140M Deal

The famous Bitcoin miner, BitDeer, has reportedly reached a huge acquisition agreement with Desiweminer, a designer of ASIC mining machine chips.

BitDeer Acquires ASIC Designer Desiweminer in Major Deal

The all-stock deal is reportedly worth a staggering $140 million, with BitDeer to acquire all the issued shares of Desiweminer by issuing 20 million shares of Class A ordinary shares of BTDR. The transaction closing remains subject to customary conditions.

After the acquisition is completed, the Desiweminer team will be integrated with BitDeer’s ASIC design team based in Singapore. Due to the integration of both companies’ technologies and technologies, products will be released immediately.

Readmore: Sanctum CLOUD Airdrop To launch In Few Weeks

Post-Acquisition Integration of BitDeer and Desiweminer Teams

This acquisition occurred soon after BitDeer had secured a big investment of $150 million from Tether, the stablecoin company, just by the end of last month. BTDR shares showed a minimal reaction in initial trading after the announcement, trading up 0.54% at $7.05 a share in the premarket.

The acquisition of Desiweminer by BitDeer points to a great game in the Bitcoin mining industry, combining the strengths of both companies into a future of innovation with integrated products.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

ASIC designer

Bitdeer

Bitdeer Technologies

Bitdeer Technologies Group

Desiweminer

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Author

Thana

I am a news editor at Coincu, where I produce daily editorial packages and manage the knowledge and review article sections. Before journalism, I earned a Bachelor's degree in Global Logistics and Supply Chain Management from Northampton University and studied news journalism at Press Association Training.
News

BitDeer Acquires ASIC Designer Desiweminer In A Monumental $140M Deal

Key Points:

  • BitDeer acquires Desiweminer for $140 million.
  • Desiweminer’s team will merge with BitDeer’s Singapore team.
  • The deal follows BitDeer’s $150 million investment from Tether.
BitDeer acquires ASIC designer Desiweminer in a $140M all-stock deal. Post-acquisition, both teams will integrate, promising innovative products.
BitDeer Acquires ASIC Designer Desiweminer In A Monumental $140M Deal

The famous Bitcoin miner, BitDeer, has reportedly reached a huge acquisition agreement with Desiweminer, a designer of ASIC mining machine chips.

BitDeer Acquires ASIC Designer Desiweminer in Major Deal

The all-stock deal is reportedly worth a staggering $140 million, with BitDeer to acquire all the issued shares of Desiweminer by issuing 20 million shares of Class A ordinary shares of BTDR. The transaction closing remains subject to customary conditions.

After the acquisition is completed, the Desiweminer team will be integrated with BitDeer’s ASIC design team based in Singapore. Due to the integration of both companies’ technologies and technologies, products will be released immediately.

Readmore: Sanctum CLOUD Airdrop To launch In Few Weeks

Post-Acquisition Integration of BitDeer and Desiweminer Teams

This acquisition occurred soon after BitDeer had secured a big investment of $150 million from Tether, the stablecoin company, just by the end of last month. BTDR shares showed a minimal reaction in initial trading after the announcement, trading up 0.54% at $7.05 a share in the premarket.

The acquisition of Desiweminer by BitDeer points to a great game in the Bitcoin mining industry, combining the strengths of both companies into a future of innovation with integrated products.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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