Canadian Bitcoin Mining Company POW.RE Holdings Limited Will Acquire Block Green AG Through Share, Bitcoin, and Cash Agreement.
POW.RE Holdings Limited, a Canada-based Bitcoin mining company, has announced plans to acquire Block Green AG – a Swiss-based Bitcoin liquidation protocol. The transaction is expected to be completed within the next 90 days, through a combined agreement of shares, Bitcoin (BTC), and cash.
The deal aims to integrate POW.RE's sustainable Bitcoin mining operations with Block Green's specialized financial services for Miners. According to the announced terms, POW.RE will acquire 100% of Block Green's shares through a share exchange mechanism, accompanied by additional payments in Bitcoin and US dollars.
Block Green, operating under Swiss law and having received Capital from major funds like Founders Fund and Coinbase Ventures, specializes in providing liquidation solutions such as revenue-streaming and hedging for Bitcoin Miners. Meanwhile, POW.RE operates hydroelectric mining facilities in Canada and Paraguay and develops advanced hashrate management technology.
Synergy Strategy for the Bitcoin Market
This merger is expected to create a synergy effect by expanding the market through Block Green's extensive mining industry partner network. The synergy benefits also include diversifying income sources and enhancing legal compliance through Block Green's Swiss license and pending approvals from the European Union (EU).
After the merger is completed, POW.RE will commit to providing baseload hashrate for Block Green's marketplace for 24 months. In terms of personnel, Block Green's CEO Sebastien Hess will join POW.RE's board of directors, while Block Green's team will be retained to ensure business continuity.
"This agreement marks an important step in our efforts to build Bitcoin credit infrastructure," a POW.RE representative shared. Meanwhile, Block Green emphasized the significant expansion potential for its financial products following this transaction.
The agreement still requires regulatory approvals and must meet other completion conditions before becoming effective. Although the specific financial value of the transaction was not disclosed, both companies confirmed they will continue operations at their current locations in Montreal (Canada) and Rottreuz (Switzerland) after the transaction is completed.
