Bitcoin miner PrimeBlock to go public via $1.25 billion SPAC deal

Published by
Reuters UK

(Reuters) – Prime Blockchain Inc, a bitcoin mining and infrastructure startup, on Friday agreed to go public in the United States by merging with a blank-check firm in a deal that would value the combined company at $1.25 billion including debt. The company, which does business as PrimeBlock and operates data centers and crypto mining operations across North America, has secured $300 million in equity financing for the deal from an affiliate of Cantor Fitzgerald & Co. The merger with 10X Capital Venture Acquisition Corp II is expected to close by the second half of this year, after which the c…

Read More