Bitcoin miner Cipher to go public via $2B merger
Cipher Mining Inc said on Friday it will go public through a merger with blank-check firm Good Works Acquisition Corp in a deal that values the combined company at $2 billion.
The deal will provide the merged entity with gross cash proceeds of $595 million, which includes $425 million from investors including Fidelity Management & Research Company and Morgan Stanley's Counterpoint Global. The combined company, to be named Cipher Mining Inc, is expected to be listed on the Nasdaq under the ticker symbol "CIFR".
The deal will provide the merged entity with gross cash proceeds of $595 million, which includes $425 million from investors including Fidelity Management & Research Company and Morgan Stanley's Counterpoint Global. The combined company, to be named Cipher Mining Inc, is expected to be listed on the Nasdaq under the ticker symbol "CIFR".
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