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Bitcoin Miner Cipher Mining Going Public In SPAC Merger


Bitcoin Miner Cipher Mining Going Public In SPAC Merger

Cipher Mining, a subsidiary of the Bitfury Group, has filed an application to go public via a merger with Good Works Acquisition, a special purpose acquisition company (SPAC).


Cipher Mining is a relatively new mining company launched by Bitfury, a company which has been into blockchain and mining since launching in 2011.


The newly combined entity is believed to have a value of around $2 billion and is expected to be listed on Nasdaq under the ticker symbol CIFR.


As news of the merger deal was announced, shares of Good Works Acquisition rose 15.9% to $11.59 after markets opened for trading on Friday. Read More