CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
US English

Bitdeer unveils $4bn SPAC deal with Blue Safari

By Joyanta Acharjee

15:36, 19 November 2021

Cryptocurrency mining equipment
Bitdeer provides cloud cryptocurrency mining – Photo: Shutterstock

Bitdeer Technologies is heading to the Nasdaq in a merger with special purpose acquisition company (SPAC) Blue Safari Group, which values the cloud miner at $4bn (£2.9bn).

Singapore-headquartered Bitdeer provides cloud cryptocurrency mining from five data centres in the US and Norway. It was launched by Chinese crypto mining rig-maker Bitmain in 2019.

As of 10:00 EST (UTC-5), Blue Safari stock was up 2 cents at $10.41. For the year to date, the stock is up 4%.

Lists in 2022

Blue Safari listed in June of this year and raised $57.5m from its IPO. Bitdeer said it plans to list on the Nasdaq in the first quarter of 2022.


3,469.07 Price
-0.680% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 6.00


0.60 Price
-3.900% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168


65,854.65 Price
-3.410% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00


0.13 Price
-8.590% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.0012872

“As a leader in crypto mining, we will continue to solidify our leading position in the crypto mining space,” Bitdeer’s chair and founder Jihan Wu said in a press release. “Today marks a significant milestone for Bitdeer, and we strive to create value for our broader group of stakeholders in the future, including our clients, employees and shareholders”.

What is your sentiment on BTC/USD?

Vote to see Traders sentiment!
Main crypto rig-makersMining rigs from these companies are computer equipment that mine proof-of-work cryptocurrencies such as bitcoin - Photo: Argo Blockchain

Mining rigs

Wu co-founded Bitmain, which is a major player in the cryptocurrency mining space due to the dominant position Bitmain mining rigs  computer equipment that mine proof-of-work cryptocurrencies such as bitcoin have in the space.

The crypto mining space has attracted tremendous attention in recent years, and Bitdeer’s innovative platform has propelled it into the limelight among the most illustrious players in the sector, said Blue Safari CFO Naphat Sirimongkolkasem.

Read more: Excess leverage pushes crypto prices lower

Markets in this article

Bitcoin / USD
65854.65 USD
-2323.45 -3.410%

Related topics

Rate this article

The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided in this article is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents and has not been prepared in accordance with the legal requirements designed to promote investment research independence. While the information in this communication, or on which this communication is based, has been obtained from sources that believes to be reliable and accurate, it has not undergone independent verification. No representation or warranty, whether expressed or implied, is made as to the accuracy or completeness of any information obtained from third parties. If you rely on the information on this page, then you do so entirely at your own risk.

Still looking for a broker you can trust?

Join the 630,000+ traders worldwide that chose to trade with

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading