Publicly traded bitcoin miner BTCS Inc (BTCS) has signed a non-binding letter of intent to merge with Blockchain Global Limited in order to fill a "talent void," according to filings with the Securities and Exchange Commission.

Blockchain Global operates a bitcoin mine in China and a bitcoin exchange in Australia called AXC.io. The company recently invested in bitcoin firm DigitalX through a convertible loan denominated only in bitcoin.

BTCS attempted to merge with Israel-based miner Spondoolies-Tech in 2015, but the deal fell apart when an Israeli court dissolved Spondoolies due to financial problems, according to CoinDesk. BTCS raised $1 million earlier this year to erase some losses and shore up its financials.

Maryland-based BTCS stock traded down 8% at Monday's close. Shares have fallen 36% since the start of the year.

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