Bitdeer Technologies Holding Co., the Singapore-based Bitcoin mining company controlled by Chinese billionaire Jihan Wu, is merging with Blue Safari Group Acquisition Corp. in an estimated $4 billion SPAC agreement that will allow the firm to trade in the U.S.
Wu is considered one of the most influential people in the cryptocurrency markets, having served as head of equipment maker and miner Bitmain Technologies Ltd. before the company broke up. Blue Safari is a special purpose acquisition company that raised roughly $60 million in its initial public offering in June.
