Bitdeer, under the leadership of Jihan Wu, a technology company specializing in blockchain and high-performance computing, has recently acquired Desiweminer, a fabless crypto ASIC design firm, in a deal valued at $140 million. This all-stock transaction marks a strategic move for Bitdeer to enhance its capabilities and accelerate its time to market.
The acquisition was announced on June 6, 2024, through a press release shared by Bitdeer on their official Twitter account. With the purchase of 20 million Bitdeer Class A ordinary shares, Bitdeer aims to integrate Desiweminer’s proprietary technologies and intellectual property into its operations. These new assets will be instrumental in the development of innovative products that could revolutionize the ASIC market.
Following a comprehensive ten-month due diligence process, Bitdeer identified Desiweminer’s cutting-edge technology, skilled engineering team, and robust sourcing network as key assets that align well with its own chip designs. The compatibility of Desiweminer’s proprietary chips with complex semiconductor processes, particularly at 4nm and below, positions Bitdeer for significant advancements in ASIC technology.
Linghui Kong, the Chief Business Officer of Bitdeer, expressed enthusiasm about the acquisition, highlighting Desiweminer’s track record in ASIC design and efficient mining machines. By integrating Desiweminer’s advanced technologies, Bitdeer aims to redefine the ASIC market and deliver superior products to its customers. The leadership team’s expertise in Bitcoin further strengthens Bitdeer’s position to lead the multi-billion-dollar ASIC industry in the future.
