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Good Works Acquisition Corp. (NASDAQ: GWAC) announced that its shareholders have approved the business combination with Cipher Mining Technologies Inc., a Bitcoin mining company. Approximately 87.9% of votes cast, representing about 57.0% of outstanding shares, were in favor. The merger is expected to close on August 26, 2021, pending final conditions. Once completed, Cipher Mining will trade on NASDAQ under the ticker symbols 'CIFR' for common stock and 'CIFRW' for warrants. Cipher aims to be a leading Bitcoin mining company in the U.S., leveraging advanced technology and strong power agreements.
Good Works Acquisition Corp. (NASDAQ: GWAC) announced that the SEC has made effective its registration statement for the proposed business combination with Cipher Mining Technologies Inc., a Bitcoin mining company. The Special Meeting for shareholders to vote on this merger is scheduled for August 25, 2021. Good Works' Board of Directors recommends that shareholders approve the merger. Cipher Mining aims to become a leading U.S. Bitcoin miner, leveraging advanced technology and strategic power purchase agreements. Upon completion, Cipher's stocks will trade under the ticker symbols 'CIFR' and 'CIFRW' on Nasdaq.
Good Works Acquisition Corp. (NASDAQ: GWAC) has amended its registration statement on Form S-4 to facilitate the proposed acquisition of Cipher Mining Technologies Inc. A key modification includes Bitfury's contribution of $50 million in cash for PIPE financing, enhancing Cipher Mining's financial flexibility. The company has secured contracts with three hosting providers, targeting up to 910 MW of power capacity by 2026 to support its Bitcoin mining objectives. This strategic move positions Cipher Mining to capitalize on the growing demand for Bitcoin mining infrastructure in the U.S.
Cipher Mining Technologies Inc. announced the filing of a registration statement on Form S-4 with the SEC regarding its merger with Good Works Acquisition Corp. (GWAC). The proposed transaction requires shareholder approval and regulatory clearance. Once completed, the new entity will be named Cipher Mining Inc. and listed on Nasdaq under the ticker CIFR. Cipher Mining aims to be a leading U.S. Bitcoin mining company, backed by a diverse and experienced Board of Directors, including industry veterans.
Cipher Mining Technologies has appointed Patrick Kelly as Chief Operating Officer. Kelly, previously COO at Stone Ridge Asset Management, will manage daily operations to enhance Bitcoin network infrastructure. CEO Tyler Page noted Kelly's strong leadership and fintech background as vital for the company's ambitions. Cipher Mining aims to establish itself as a leading Bitcoin miner in the U.S., with plans for data centers in Ohio and Texas. The company is set to combine with Good Works Acquisition Corp. (GWAC) and become publicly listed under the new symbol CIFR.
Cipher Mining Technologies Inc. has appointed William Iwaschuk as Chief Legal Officer to enhance its legal operations and regulatory compliance. Iwaschuk brings nearly 20 years of legal and compliance experience from various financial services sectors, including his role at Tower Research Capital. His expertise is expected to support Cipher Mining's goal of becoming a leader in U.S. Bitcoin mining, providing crucial infrastructure for the Bitcoin network. This leadership change reflects Cipher's commitment to navigating the evolving cryptocurrency sector effectively.
Cipher Mining Technologies and Good Works Acquisition Corp. (GWAC) announced a definitive agreement for a business combination, establishing Cipher Mining Inc., expected to trade on NASDAQ under ticker CIFR. The merger values the combined entity at an enterprise value of $2.0 billion and is projected to generate $595 million in gross cash. Cipher Mining, a subsidiary of Bitfury Group, aims to be a leading U.S. Bitcoin mining company with a planned capacity of 745MW by 2025. The transaction is anticipated to close in Q2 2021, subject to stockholder approval.
