Bitcoin miner Cipher going public with $2-billion SPAC deal [Toronto Globe and Mail (Ontario, Canada)]
Good Works Acquisition Corp. (GWAC)
Company Research
Source: Toronto Globe and Mail
Bitcoin miner Cipher going public with $2-billion SPAC deal Cipher Mining Inc said it had agreed to go public through a merger with blank-check firm Good Works Acquisition Corp in a deal valuing it at $2 billion, underscoring the rising interest in the bitcoin space. Shares of Good Works rose 15.9 per cent to $11.59 after markets opened for trading on Friday. The bitcoin mining firm’s bid to go public comes as a clutch of other crypto firms are pushing ahead with similar plans despite regulatory uncertainty. Coinbase, the biggest U.S. cryptocurrency exchange, moved a step closer to listing its shares on the Nasdaq last month, but is still waiting for regulatory clearances. The unregulated nature of digital coins has traditionally made investors distinctly wary of institutions that deal in them. Experts believe successful stock market launches from the likes of Coinbase would help change that perception. Additionally, a decision by the U.S. Securities and Exchange Commission (SEC) on
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