Bitcoin Mining Company POW.RE to Acquire Block Green, Expanding Financial Services Platform

POW.RE Holdings Limited, a sustainable Bitcoin mining technology company, announced its intent to acquire Block Green AG, a Swiss-based Bitcoin liquidity protocol, in a strategic move that promises to transform Bitcoin mining financial services.

The proposed acquisition involves POW.RE purchasing 100% of Block Green's shares through an equity swap with additional consideration in Bitcoin and USD. This merger combines POW.RE's sustainable mining operations and hashrate management technology with Block Green's sophisticated financial products for miners and data center operators.

Mike Cohen, POW.RE's CEO, characterized the potential acquisition as a transformative step toward building a comprehensive Bitcoin credit infrastructure platform. The combination aims to create new revenue streams and provide miners and investors with advanced financial tools powered by hashrate technology.

Block Green, which has previously received investments from prominent venture capital firms including Peter Thiel's Founders Fund, Coinbase Ventures, and FJ Labs, brings significant expertise in Bitcoin-native financial services. The company specializes in revenue-streaming products, lending, and hedging solutions for Bitcoin miners.

The strategic merger is expected to generate multiple synergies, including enhanced market access, expanded product offerings, and a strengthened regulatory position. Block Green's Swiss financial intermediary license and upcoming EU MiCA license applications provide additional regulatory credibility to the combined entity.

As part of the transaction, POW.RE will commit a baseload of hashpower to Block Green's marketplace for at least 24 months. Block Green's CEO, Sebastien Hess, will join POW.RE's board of directors, contributing his entrepreneurial and financial technology experience to the company's governance.

The companies anticipate finalizing a definitive agreement within 90 days, pending customary closing conditions and regulatory approvals. This acquisition represents a significant development in the evolving landscape of Bitcoin mining and financial services, potentially setting a new standard for integrated mining and financial platforms.