Canada’s Squire Mining in Talks to Acquire CoinGeek Assets

Squire Mining, a Canadian publicly traded company focused on ASIC-based mining, has begun exclusive negotiations over the potential acquisition of assets from CoinGeek, the operator of a crypto news outlet and mining pool, according to a press release.

The estimated purchase price is C$60.3 million ($45.7 million), which comprises about 114.8 million Squire Mining common shares and a vendor-take-back note worth C$25.8 million. The final consideration is subject to post-closing adjustments.

The Canadian company, which has been in a partnership with CoinGeek since August, is in early talks to buy 62,440 ASIC mining rigs spread across farms in Canada, the US, and Kazakhstan. If finalized, the deal will i…

This article appeared first on Cryptovest

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