Bitdeer, led by Jihan Wu, a technology company specializing in blockchain and high-performance computing, has announced the acquisition of Desiweminer, a fabless crypto ASIC design firm, in a deal valued at $140 million, all in stock. Bitdeer recently secured $150 million in funding from Tether, a stablecoin specialist.
Bitdeer is thrilled to confirm the strategic takeover of Desiweminer, which will enhance their technologies and accelerate time-to-market. The acquisition involves the purchase of all Desiweminer shares for 20 million Bitdeer Class A ordinary shares. These shares will be vested over a period of five to seven years, with certain restrictions on sale for up to twelve months after the transaction closes.
After conducting thorough due diligence over ten months, Bitdeer concluded that Desiweminer’s technology aligns with their own chip designs, particularly in complex semiconductor processes at 4nm and below. This move will merge Desiweminer’s team with Bitdeer’s ASIC design team in Singapore, potentially leading to the launch of new products integrating both technologies.
With the acquisition, Bitdeer aims to revolutionize the ASIC market. Linghui Kong, the Chief Business Officer, expressed excitement over Desiweminer’s accomplishments in ASIC design and the potential for future advancements. The integration of Desiweminer’s advanced technologies is expected to enhance existing products and drive the development of next-generation ASICs, positioning Bitdeer as a key player in the multi-billion-dollar ASIC market.
By acquiring Desiweminer, Bitdeer is poised to redefine the future of ASIC technology and performance, leveraging their expertise in Bitcoin to dominate the industry in the years to come. #BTC #Bitcoin
