The maker of chips for ASIC mining equipment, Desiweminer, has agreed to be acquired by Bitcoin (BTC) miner Bitdeer in an all-stock deal valued at $140 million.
An announcement on Thursday stated that Bitdeer had agreed to purchase all outstanding shares of Desiweminer on June 3 for a sum of 20 million Class A ordinary BTDR shares.
Customary closing requirements apply to the acquisition.
The ASIC design team of Bitdeer will welcome the Desiweminer team to Singapore, and products showcasing the combined technology of the two companies will be released right away. Tether, a stablecoin business, invested $150 million in Bitdeer at the end of the previous month.
After the news, BTDR shares didn’t respond much at first, increasing 0.54% to $7.05 in pre-market trade.