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".