Bitcoin Miner Cipher Mining Going Public in SPAC Merger
Bitcoin (CRYPTO: BTC) is raining from the digital sky, or so it seems given the profusion of cryptocurrency businesses rushing to the stock exchange lately. The most recent example is Cipher Mining, a privately held company that announced Friday it has agreed to go public via a merger with a special purpose acquisition company (SPAC), Good Works Acquisition Corp (NASDAQ: GWAC).
"Mining" is essentially the digital production of a cryptocurrency -- Cipher Mining specializes in Bitcoin. According to the company, its merger with Good Works Acquisition will create a business with an enterprise value of $2 billion. The combined entity will be known as Cipher Mining and be listed on the Nasdaq with the ticker symbol CIFR.
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Source Fool.com
