Crypto-Follow logo Crypto-Follow logo
Seeking Alpha 2022-04-25 16:49:38

SPAC TradeUp shareholders approve merger with bitcoin mining operator SAITECH

TradeUp Global’s (TUGC) shareholders have approved the SPAC’s merger with SAITECH Limited, an energy-saving bitcoin mining operator and cleantech developer. TradeUp said that the deal is expected to close by the end of April. The combined company’s stock will trade on Nasdaq under the symbol SAI. SAITECH provides hosting for bitcoin mining servers. Its proprietary cooling and waste energy recovery technology also allows for waste heat from mining to be used as recycled energy heat. The companies announced plans to merge in late September through a deal that pegged SAITECH with an equity value of around $228M.

#
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer