Squire Mining, a Canadian publicly traded company focused on ASIC-based mining, has begun exclusive negotiations over the potential acquisition of assets from CoinGeek, the operator of a crypto news outlet and mining pool, according to a press release.
The estimated purchase price is C$60.3 million ($45.7 million), which comprises about 114.8 million Squire Mining common shares and a vendor-take-back note worth C$25.8 million. The final consideration is subject to post-closing adjustments.
The Canadian company, which has been in a partnership with CoinGeek since August, is in early talks to buy 62,440 ASIC mining rigs spread across farms in Canada, the US, and Kazakhstan. If finalized, the deal will i...
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