{"id":53208,"date":"2021-11-19T17:30:20","date_gmt":"2021-11-19T15:30:20","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=53208"},"modified":"2025-09-03T14:02:31","modified_gmt":"2025-09-03T11:02:31","slug":"bloomberg-bitcoin-miner-primeblock-to-go-public-on-nasdaq-via-spac-deal","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bloomberg-bitcoin-miner-primeblock-to-go-public-on-nasdaq-via-spac-deal\/","title":{"rendered":"Bloomberg: Bitcoin miner PrimeBlock to go public on Nasdaq via SPAC deal"},"content":{"rendered":"

Prime Blockchain (PrimeBlock), a Bitcoin mining and infrastructure company, is in talks to merge with SPAC SPAC<\/span>-company 10X Capital Venture Acquisition Corp. II. Bloomberg reports, citing sources familiar with the matter.<\/p>\n

According to them, to complete the deal that would take PrimeBlock public, 10X intends to raise $150 million through private investments in public equity (PIPE<\/span>).<\/p>\n

The combined company would be valued at about $1.5 billion. However, the terms are not final \u2014 everything could still change, up to the possibility that the merger could be called off, the sources note.<\/p>\n

The leading crypto business under the PrimeBlock brand says it operates mining facilities in North Carolina, Tennessee and Pennsylvania, as well as in Canada.<\/p>\n

According to the report, PrimeBlock has a hashrate of around 1 EH\/s and mines roughly 5 BTC per day.<\/p>\n

On November 4, the company \u043e\u0431\u044a\u044f\u0432\u0438\u043b\u0430<\/a>, that it hired former Goldman Sachs managing director Gaurav Budhrani as CEO. The firm’s chief legal officer became Alan Konevski, who previously held a similar role at tZERO.<\/p>\n

On August 13, 10X \u043f\u0440\u043e\u0432\u0435\u043b\u0430<\/a> IPO<\/span> on Nasdaq, issuing 20 million shares at $10. At the time of writing, the ticker VXCAU on premarket was trading at about $10.92 \u2014 roughly 7% above the previous session’s close.<\/p>\n

\"Bloomberg:
Source: Nasdaq<\/a>.<\/figcaption><\/figure>\n

Earlier, a Nasdaq listing via SPAC merger announced<\/a> by rival Core Scientific. The deal valued the company at about $4.3 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"

Prime Blockchain (PrimeBlock), a bitcoin mining and infrastructure company, is in talks to merge with SPAC company 10X Capital Venture Acquisition Corp. II. Bloomberg reports, citing sources familiar with the matter.<\/p>\n","protected":false},"author":1,"featured_media":53209,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,768,26],"class_list":["post-53208","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-nasdaq","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"33","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/53208","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=53208"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/53208\/revisions"}],"predecessor-version":[{"id":53210,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/53208\/revisions\/53210"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/53209"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=53208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=53208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=53208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}