Bitdeer, under the leadership of Jihan Wu, a technology company specializing in blockchain and high-performance computing, has recently acquired Desiweminer, a fabless crypto ASIC design firm, in a deal valued at $140 million. This acquisition marks a significant milestone for Bitdeer, as it aims to enhance its capabilities and accelerate its time to market.
The acquisition was finalized on June 3, 2024, with Bitdeer purchasing all outstanding shares of Desiweminer for 20 million Bitdeer Class A ordinary shares. These shares will be gradually exercisable over a period of five to seven years, with certain restrictions on sale for six to twelve months after the transaction closes.
Bitdeer conducted an extensive ten-month due diligence process on Desiweminer’s technology, engineering talent, and sourcing network, finding compatibility with their own chip designs. This alignment will strengthen Bitdeer’s ASIC design team in Singapore and pave the way for the launch of new products integrating Desiweminer’s technology.
Linghui Kong, Bitdeer’s Chief Business Officer, expressed excitement about the acquisition, highlighting Desiweminer’s impressive track record in ASIC design and their existing market presence. The integration of Desiweminer’s advanced technologies is expected to enhance Bitdeer’s product offerings and drive the development of next-generation ASICs, reshaping the future of ASIC technology and performance.
With a leadership team deeply rooted in Bitcoin, Bitdeer aims to redefine and dominate the multi-billion-dollar ASIC market in the years to come, setting the stage for groundbreaking advancements in the industry.