Million

In a significant move within the cryptocurrency mining industry, <a href="https://ultramining.com/news/en/bitdeer-pioneers-crypto-mining-expansion-with-norway-and-bhutan-data-centers/" rel="noopener noreferrer nofollow">Bitdeer</a>, the bitcoin mining and cloud mining giant led by Jihan Wu, has announced the acquisition of DesiweMiner, a fabless bitcoin mining chip designer, in an all-stock deal valued at $140 million. The agreement was finalized with FreeChain Inc., the parent company of DesiweMiner, involving 20 million Class A shares of Bitdeer (BTDR), according to <a href="https://theminermag.com/news/2024-06-06/bitdeer-acquire-bitcoin-asic-desiweminer-20-million-share" rel="noopener noreferrer nofollow">TheMinerMag</a>.
The transaction is based on BTDR's closing price of $7 as of Wednesday. This acquisition follows Bitdeer's recent $100 million raise from Tether in a private placement. Bitdeer plans to leverage DesiweMiner's advanced chip designs to enhance its own ASIC miner capabilities.
DesiweMiner's latest chip, the K10 Ultra, boasts a hashrate of 170 TH/s with an efficiency of 20.5 J/TH. With around 30,000 high-performance machines already in the market, DesiweMiner's technology is seen as highly complementary to Bitdeer's proprietary chips, which are designed for advanced semiconductor processes at 4nm and below.
Following a ten-month due diligence period, Bitdeer concluded that DesiweMiner's designs would accelerate the development and market readiness of its SEALMINER series. The acquisition will see the DesiweMiner team join Bitdeer's ASIC design team in Singapore.

Bitdeer Acquires DesiweMiner for $140 Million in All-Stock Deal

Ultramining_Eng

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