Bitcoin miner Bitdeer bought Singaporean maximum-security vault Le Freeport: Report

Quick Take

  • Bitdeer acquired the Singaporean maximum-security vault Le Freeport in July for $28.4 million, according to Bloomberg.
  • The company has been looking to go public via a SPAC deal that has been delayed. 

Bitcoin miner Bitdeer has bought Le Freeport, a Singaporean maximum-security vault, according to Bloomberg.

The deal, which closed in July, was worth S$40 million ($28.4 million), sources told Bloomberg.

Previously owned by Swiss art dealer Yves Bouvier, Le Freeport was also a repository for fine art, precious gems, and gold and silver bars.

Bitdeer did not immediately respond to a request for comment from The Block.

The company has been aiming to go public since last year when it announced a $4 billion SPAC deal with blank-check firm Blue Safari Group Acquisition Corp. The deadline for the deal has been delayed three months from September 14 to December 14, according to a US Securities and Exchange Commission filing from this month.

The company is led by Jihan Wu, who previously co-founded bitcoin mining manufacturer Bitmain. Wu stepped down from the company in early 2021.


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About Author

Catarina is a reporter for The Block based in New York City. Before joining the team, she covered local news at Patch.com and at the New York Daily News. She started her career in Lisbon, Portugal, where she worked for publications such as Público and Sábado. She graduated from NYU with a MA in Journalism. Feel free to email any comments or tips to [email protected] or to reach out on Twitter (@catarinalsm).