{"id":425145,"date":"2022-04-01T22:15:00","date_gmt":"2022-04-01T19:15:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-mining-company-primeblock-to-go-public-via-1-25b-spac-merger\/"},"modified":"2022-04-01T22:15:00","modified_gmt":"2022-04-01T19:15:00","slug":"bitcoin-mining-company-primeblock-to-go-public-via-1-25b-spac-merger","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-mining-company-primeblock-to-go-public-via-1-25b-spac-merger\/","title":{"rendered":"# Bitcoin mining company PrimeBlock to go public via $1.25B SPAC merger"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3df966a7101\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3df966a7101\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-mining-company-primeblock-to-go-public-via-1-25b-spac-merger\/#%E2%80%9D_Bitcoin_mining_company_PrimeBlock_to_go_public_via_125B_SPAC_merger_%E2%80%9C\" >&#8221; Bitcoin mining company PrimeBlock to go public via $1.25B SPAC merger &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_mining_company_PrimeBlock_to_go_public_via_125B_SPAC_merger_%E2%80%9C\"><\/span>&#8221; Bitcoin mining company PrimeBlock to go public via $1.25B SPAC merger &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvM2IzOTI4MDUtZTIyZi00NWJlLWEzODMtOWJjNzcwZmM3ZTIxLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>On Friday, Bitcoin (BTC) mining company PrimeBlock <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/0001848898\/000119312522092769\/d535470d425.htm\">announced<\/a> that it is merging with special purpose acquisition vehicle (SPAC) company 10X Capital Venture Acquisition Corp II. The deal places PrimeBlock at an enterprise value of $1.323 billion and is expected to close in the second half of the year.<\/p>\n<p>The company has <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1848898\/000119312522092770\/d297928d425.htm\">installed<\/a> 1.8 exahash per second of BTC self-mining equipment, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.blockchain.com\/charts\/hash-rate\">accounting<\/a> for <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roximately 0.89% of the Bitcoin network&#8217;s overall hash rate. According to PrimeBlock, its break-even price for mining is $9,000 per coin. Back in 2020, up to 59% of its energy sources were carbon-free. The firm seeks to become carbon-neutral on a net-zero basis by the year 2050.<\/p>\n<p>Last year, PrimeBlock brought in $21.8 million in revenue through mining 356.8 BTC. But in 2022, the firm expects to generate $220.1 million in revenue, or a forecasted 3,629 BTC, partly via rapidly expanding its mining capacities to over 10 exahash per second. It also has a small Ethereum (ETH) mining operation, extracting 699 of such digital assets in 2021.<\/p>\n<p>Regarding the business agreement, Hans Thomas, chairman and CEO of 10X Capital, commented:<\/p>\n<blockquote><p>&#8220;Gaurav and the leadership team [&#8230;] have successfully deployed over 110 megawatts of data center capacity and generated more than $24 million of revenue in the fourth quarter. They have built strong relationships with key partners [&#8230;] with a commitment to net-zero carbon emissions by 2050.&#8221;<\/p><\/blockquote>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-mining-company-primeblock-to-go-public-via-1-25b-spac-merger\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin mining company PrimeBlock to go public via $1.25B SPAC merger &#8220; On Friday, Bitcoin (BTC) mining company PrimeBlock announced that it is merging with special purpose acquisition vehicle (SPAC) company 10X Capital Venture Acquisition Corp II. The deal places PrimeBlock at an enterprise value of $1.323 billion and is expected to close in&#8230;<\/p>\n","protected":false},"author":1,"featured_media":425146,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvM2IzOTI4MDUtZTIyZi00NWJlLWEzODMtOWJjNzcwZmM3ZTIxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74989,74863,74355,117,70359,4965],"class_list":["post-425145","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-mining","tag-cryptocurrencies","tag-adoption","tag-business","tag-stocks","tag-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/425145","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=425145"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/425145\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/425146"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=425145"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=425145"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=425145"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}