Cipher Mining Inc said it had agreed to go public through a merger with blank-check firm Good Works Acquisition Corp in a deal valuing it at $2 billion, underscoring the rising interest in the bitcoin space. Coinbase, the biggest U.S. cryptocurrency exchange, moved a step closer to listing its shares on the Nasdaq last month, but is still waiting for regulatory clearances.
“I do see a future where the SEC will continue to analyze and hopefully embrace bitcoin in particular. All of crypto is a much bigger question,” Cipher Mining CEO Tyler Page told Reuters.
The deal with Good Works will provide the merged entity with gross cash proceeds of $595 million, which includes $425 million from investors including Fidelity Management & Research Company and Morgan Stanley’s Counterpoint Global.
Read more at Reuters
