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Bitcoin Miner Bitdeer to Buy ASIC Chip Designer Desiweminer for $140M in All-Stock Deal

Bitcoin {{BTC}} miner Bitdeer has agreed to acquire Desiweminer, a designer of chips for ASIC mining machines, in an all-stock transaction worth $140 million.

Bitdeer agreed to acquire all outstanding shares in Desiweminer for a consideration of 20 million Class A ordinary BTDR shares on June 3, according to an announcement on Thursday.

The acquisition is subject to customary closing conditions.

The Desiweminer team will join Bitdeer’s ASIC design team in Singapore, and products featuring the integrated technologies of the two entities are slated for immediate release.

Bitdeer received an investment worth $150 million from stablecoin company Tether at the end of last month.

BTDR shares showed little initial reaction to the announcement, rising 0.54% to $7.05 in pre-market trading.

Read More: Bitcoin Miner Bitdeer Is 'Differentiated' From Peers, Shares Are Cheap: Benchmark