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Bitfury to take crypto-mining subsidiary public via SPAC
March 8, 2021
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Bitcoin-mining company
Cipher Mining
has agreed to combine with
Good Works Acquisition
, a blank-check company. The deal is expected to provide Cipher, a subsidiary of Bitfury, with $595 million in cash and value the combined company at $2 billion. Bitfury has been backed by
Korelya Capital
,
Binary Financial
and
Cherry Tree Investments
, among others.
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