Cipher Mining Inc

:GWAC  
7.99
-0.32 (-3.91%)
Exchange Changes, Other Pre-Announcement, Mergers / Acquisitions

Cipher Mining To Become A Publicly Traded Company Via A Merger With Good Works Acquisition Corp

Published: 03/05/2021 11:58 GMT
(GWAC) - Cipher Mining Inc., a Newly Formed Us-based Bitcoin Mining Company, to Become a Publicly Traded Company Via a Merger With Good Works Acquisition Corp.
Good Works Acquisition Corp - Combined Company Valued at an Enterprise Value of $2.0 Billion.
Good Works Acquisition Corp - Planned Mining Capacity of 745mw by End of 2025.
Good Works Acquisition Corp - Deal Includes $425 Million Fully Committed Pipe Investment.
Good Works Acquisition Corp - Pipe Investment Includes $50 Million Investment-in-kind From Cipher Mining's Parent Company, Bitfury.
Good Works Acquisition - Pipe Investment From Bitfury is Structured As Credit for Future Purchases of Operating Services and Equipment for Cipher.
Good Works Acquisition Corp - Combined Company Will Be Named Cipher Mining Inc, Expected to Be Listed on Nasdaq Under New Ticker Symbol "cifr".
Good Works Acquisition Corp - Cash From Transaction, Net of Transaction Fees, Will Be Used to Fund Planned Build Out of Mining Facilities of Co.
Good Works Acquisition - Cipher Mining's U.S.-based Data Centers to Come On-line Between Q4 2021 & Q2 2022 With Total of 445mw of Power Capacity.
Good Works Acquisition Corp - Pipe Investors, Including Bitfury, Will Own About 15%, Good Works, Inclusive of Its Founder Shares Will Own About 7.5%.
Good Works Acquisition Corp - Cipher Sees Planned Expansion of an Additional 300mw Deployed Between 2023 and 2025.