Cryptocurrencies
Bitmain-Backed Crypto Miner Seeks U.S. Listing in SPAC Deal
- Bitfufu provides cloud services to crypto mining firms
- Revenue may triple even as countries crack down on mining
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FinFront Holding Co., a crypto mining platform backed by Bitmain Technologies Ltd., is planning to list in the U.S. through a merger with blank-check firm Arisz Acquisition Corp.
The SPAC deal between Arisz and FinFront, also known as Bitfufu, involves additional private investment in public equity, or PIPE, funding of $70 million and implies an enterprise value of $1.5 billion for the business, the company said in a statement Tuesday. The combined firm is expected to begin trading in the third quarter.