Bitcoin Miner Bitdeer to Buy ASIC Chip Designer Desiweminer for $140M in All-Stock Deal

Bitcoin (BTC) miner Bitdeer has agreed to acquire Desiweminer, a designer of chips for ASIC mining machines, in an all-stock transaction worth $140 million.
Bitdeer agreed to acquire all outstanding shares in Desiweminer for a consideration of 20 million Class A ordinary BTDR shares on June 3, according to an announcement on Thursday.
The acquisition is subject to customary closing conditions.
The Desiweminer team will join Bitdeer’s ASIC design team in Singapore, and products featuring the integrated technologies of the two entities are slated for immediate release.
Bitdeer received an investment worth $150 million from stablecoin company Tether at the end of last month.
BTDR shares showed little initial reaction to the announcement, rising 0.54% to $7.05 in pre-market trading.
Read More: Bitcoin Miner Bitdeer Is ‘Differentiated’ From Peers, Shares Are Cheap: Benchmark
Edited by Parikshit Mishra.

Disclosure
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.
Jamie Crawley is a CoinDesk news reporter based in London.