Category: Acquisition

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Mawson Infrastructure Group Deploys 2,600 Bitcoin Miners at Newly Secured Pennsylvania Site

July 6, 2023

Mawson Infrastructure Group, a publicly-listed bitcoin mining operation, announced on Thursday that it has acquired a new mining site in Bellefonte, Pennsylvania. The company detailed that it has swiftly deployed 2,600 bitcoin miners at the location. Mawson Secures Pennsylvania Site, Deploys 2,600 Bitcoin Miners for Self-Mining Operations Bitcoin mining companies are experiencing ongoing expansion in…
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Custodian Prime Trust’s Payments Subsidiary Banq Files for Chapter 11 Bankruptcy Protection

June 15, 2023

Shortly after the custodian Bitgo announced its acquisition of the company Prime Trust, its payments subsidiary, a firm called Banq, filed for Chapter 11 bankruptcy protection in the United States. According to court documents, the filing reveals that Banq listed approximately $17.725 million in assets and around $5.4 billion in liabilities. Banq’s Bankruptcy Filing Exposes…
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Digital Asset Trust Firm Bitgo Sets Sights on Prime Trust Acquisition 

June 9, 2023

In a recent development, Bitgo, the digital asset trust firm, disclosed that it has penned a letter of intent to acquire Prime Trust, a crypto custodian based in Nevada. Should the acquisition proceed, Prime Trust would become an integral part of Bitgo’s network of regulated trust companies. Bitgo Signs Letter of Intent to Acquire Crypto…
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BitGo Announces Landmark Deal to Acquire Crypto Custodian Prime Trust

June 9, 2023

BitGo Holdings Inc., the renowned digital asset trust and security company, has revealed plans to acquire 100% of the equity of Prime Core Technologies, Inc., the parent company of Prime Trust. The development marks a watershed moment for the Prime Trust clients, positioning them to enjoy business continuity, long-term stability, and regulated, secure solutions once…
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Cleanspark Bolsters Hashrate With $40.5M Purchase of 12,500 Bitcoin Miners

June 2, 2023

On June 1, 2023, Cleanspark, a publicly-traded bitcoin mining company, declared the acquisition of 12,500 Antminer S19 XP bitcoin miners for $40.5 million. The purchase is expected to raise Cleanspark’s hashrate by an extra 1.76 exahash per second (EH/s). Acquisition to Boost Cleanspark’s Hashpower by 1.76 EH/s Throughout 2023, Cleanspark (Nasdaq: CLSK) has secured a…
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US Bitcoin Corp to Operate Restructured Mining Division of Celsius, Boosting Hashrate by 12.2 EH/s

May 30, 2023

Bitcoin mining company U.S. Bitcoin Corp (USBTC) has announced its intention to employ the mining assets of Celsius, the defunct crypto lender. The development follows the acquisition of application-specific integrated circuit (ASIC) machines from the bankrupt company by the Fahrenheit coalition, of which USBTC is a member. USBTC said it aims to revive the fleet…
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Digital Currency Group to Sunset Tradeblock, Cites ‘Regulatory Challenges’ and ‘Prolonged Crypto Winter’

May 26, 2023

Digital Currency Group has revealed its decision to sunset its institutional trading platform, Tradeblock, on May 31, 2023. The company attributes the move to the “challenging regulatory environment” and the enduring effects of the “prolonged crypto winter,” signaling the conclusion of its subsidiary’s operations. DCG to Shut Down Institutional Trading Arm Tradeblock by the Month’s…
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First Citizens Bank Acquires Silicon Valley Bank, Costing FDIC Deposit Insurance Fund an Estimated $20B

March 28, 2023

According to the Federal Deposit Insurance Corporation (FDIC), the troubled bank Silicon Valley Bank (SVB) was acquired by First Citizens Bank & Trust Company, which is based in Raleigh, North Carolina. First Citizens acquired all deposits and loans from SVB, as well as the 17 branches that SVB owned across the United States. Silicon Valley…
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UBS Considers Acquiring Credit Suisse, Requests Government Backstop in Deal

March 18, 2023

After Credit Suisse Group AG announced it would borrow 50 billion Swiss francs from the Swiss National Bank, UBS Group AG is reportedly considering acquiring the banking giant. However, UBS is requesting that the government issue a backstop to protect against any losses if it purchases Credit Suisse. According to unnamed sources familiar with the…
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Luxor Technologies Acquires Ordinalhub to Provide Tools for Bitcoin-Based NFTs

February 23, 2023

With Bitcoin-based digital collectibles becoming a popular trend, the full-stack bitcoin mining services company Luxor Technologies has acquired the platform Ordinalhub, a project that provides tools to buy, sell, and track Bitcoin-issued non-fungible token (NFT) assets. Luxor Plans to Address Challenges in the Market for Ordinal Inscription Trades At the time of writing, there are…
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