Bitdeer Acquires DeweiMiner, Expands Its ASIC Mining Operation
CryptoNewsTerminal Staff06 Jun, 2024
Bitdeer Acquires DeweiMiner, Expands Its ASIC Mining Operation
Bitdeer, the Bitcoin mining giant led by former Bitmain co-founder Wu Jihan, has acquired ASIC chip manufacturer DeweiMiner for approximately $140 million. The deal involves Bitdeer acquiring all of DeweiMiner's outstanding shares in exchange for 20 million class A ordinary shares. With this acquisition, Bitdeer aims to strengthen its position in the Bitcoin mining industry. By integrating DeweiMiner's advanced ASIC design capabilities, Bitdeer expects to enhance its mining efficiency and expand its offerings. The combined expertise of both companies will bring innovative solutions to the sector. This move follows Bitdeer's recent $150 million funding from Tether. The company has been actively expanding its operations and investing in research and development to remain at the forefront of the Bitcoin mining industry. The acquisition is expected to accelerate Bitdeer's growth and solidify its dominance in ASIC mining technology. The combined capabilities of Bitdeer and DeweiMiner will further contribute to the advancement of the Bitcoin mining ecosystem.
