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.

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.

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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.