Bitcoin mining and infrastructure start-up Prime Blockchain set to list on Nasdaq in a merger with blank-cheque firm valuing it at $1.25 billion. The deal is expected to be completed by the second half of 2022. PrimeBlock to Go Public via $1.25B SPAC Deal According to a recent report from Reuters, bitcoin mining company PrimeBlock will soon start trading on Nasdaq after securing $300 million in equity financing from an affiliate of Cantor Fitzerald & Co. The merger with 10X Capital Venture Acquisition, a special-purpose acquisition company (SPAC), would ultimately value Prime Blockchain at $1.25 billion including debt. The head of the combined entity will be PrimeBlock’s current Chief Executive Officer Gaurav Budhrani, a former Goldman Sachs investment banker. “We believe the transaction will provide tremendous momentum for our next phase of growth,” Budhrani said in a statement. PrimeBlock will not be the only bitcoin mining company to be listed on Nasdaq. At the end of last year, TeraWulf, another US-based miner, eyed a public listing on Nasdaq through a business merger with the tech firm IKONICS Corporation. Meanwhile, bitcoin miners Marathon Digital and Riot Blockchain, have already listed their shares for public trading.The post Bitcoin Miner Prime Blockchain Set to List on Nasdaq appeared first on Cryptoknowmics-Crypto News and Media Platform.
