Blockchain News

Crypto Miner Bitdeer Buys Storage Facility Le Freeport for $28M

Written by James Smith

Bitdeer, a mining firm owned by Bitman co-founder Wu Jihan, spent Singapore {dollars} $40 million (about US$28.4 million) in July to amass Le Freeport, the highest-security storage facility in Singapore, based on Bloomberg.

Wu Jihan himself has confirmed the transaction.

Previously generally known as Singapore Freeport, Le Freeport is very safe storage and show facility in Singapore.

Wu, generally known as Asia’s Fort Knox, has acquired a repository of artwork, valuable gems and bullion from Swiss artwork supplier and shareholders led by founder Yves Bouvier, folks acquainted with the matter mentioned.

Le Freeport price S$100 million (practically US$71 million) to construct and opened in 2010. About three-quarters of the acquisition value went to collectors, together with DBS, whereas Yves Bouvier, who as soon as held a 70% stake in Le Freeport, and different shareholders acquired about S$5 million after paying down debt and paying prices, folks acquainted with the matter mentioned. (practically $3.55 million)

Final 12 months, Bitman co-founder Wu Jihan formally introduced that he can be stepping down from main cryptocurrency mining agency Bitmain Applied sciences Restricted as a part of an effort to resolve a long-running inside energy wrestle with rival co-founder Zhan Mailei.

Bitman co-founder Wu Jihan has formally introduced that he might be stepping down from main cryptocurrency mining agency Bitmain Applied sciences Restricted, as a part of an effort to resolve a long-running inside energy wrestle with rival co-founder Zhan Mailei.

After the settlement, Wu will lead Bitdeer, a cloud mining firm in Norway and the USA, which was spun out of Bitmain. He’ll function the corporate’s chairman and Kong Linghui will function the brand new firm’s chief govt officer.

Picture supply: Shutterstock


Source link

About the author

James Smith

Leave a Comment