POW.RE to Acquire Block Green, Expanding Bitcoin Financial Services Infrastructure

Canadian Bitcoin mining technology company POW.RE Holdings Limited has announced its intention to acquire Block Green AG, a Swiss-based Bitcoin liquidity protocol, in a strategic move to expand its financial services capabilities within the cryptocurrency ecosystem.

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

The transaction is expected to generate significant operational synergies, including enhanced market access, expanded product offerings, and a strengthened regulatory position. Block Green, backed by prominent investors like Peter Thiel's Founders Fund and Coinbase Ventures, brings established relationships with major Bitcoin mining companies and a Swiss financial intermediary license.

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

Following the acquisition, 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, ensuring strategic continuity and driving future innovation.

The companies expect to finalize the agreement within 90 days, subject to customary closing conditions and regulatory approvals. This strategic combination represents a significant development in the evolving landscape of cryptocurrency financial services.