Jihan Wu’s cloud-mining firm may not go public till December 2023.

The deadline for completing a merger that would see crypto-mining firm Bitdeer go public on the Nasdaq might be extended by up to one year, a Wednesday filing with the U.S. Securities and Exchange Commission shows.

Last year, Bitdeer announced that it was merging with special purpose acquisition company (SPAC) Blue Safari Group Acquisition Corp. But according to Wednesday’s filing, the SPAC will hold a shareholder meeting to vote on extending the deadline to close the deal to as late as Dec. 14, 2023.

Bitcoin (BTC) miners have been struggling with liquidity, and raising capital has proved difficult amid the market downturn. Their margins have dwindled as the price of bitcoin is low while energy prices are high.

The deadline has already been extended twice by three months each, and the SPAC is asking shareholders for the discretion to continue pushing it back, with another four three-month extensions, the filing says.

Bitdeer offers cloud-mining services, meaning customers can rent computing power from machines that Bitdeer owns and operates. It is founded and led by Jihan Wu, a co-founder of mining rig manufacturer Bitmain who is renowned within the industry.

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The exchange is looking at a listing after reaching a valuation of $14 billion last month.
Cryptocurrency exchange Blockchain.com is interviewing banks for an initial public offering (IPO), which could take place as early as this year, Bloomberg reported on Tuesday.
The IPO might not happen till 2023 and its plans could still change, the report said, citing people familiar with the matter.
Blockchain.com is one of the biggest crypto exchanges in the world and reached a valuation of $14 billion in a Series D round last month. The Series D round was led by Lightspeed Venture Partners, with “major participation” from Baillie Gifford.
The exchange has recently closed a few deals. It acquired Altonomy’s over-the-counter (OTC) trading desk and was also picked by the Dallas Cowboys, a prominent team of the National Football League (NFL), as the team’s first crypto-related sponsorship.
Earlier this month, Blockchain.com launched an asset management service aimed at institutional and high net worth investors, in partnership with Altis Partners.
Blockchain.com did not immediately respond to a request for comment.

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