Crypto firm Hyper Bit to acquire Dogecoin Mining
Cryptomining firm Hyper Bit Technologies has signed a letter of intent to buy Dogecoin Mining Technologies, a startup focused on mining Dogecoin (DOGE) and Litecoin (LTC).
The company this week announced it has signed a non-binding agreement to purchase Dogecoin Mining Technologies in a structured deal that will include an 11MW data center hosting facility based in Canada, along with a minimum of 2,000 ElphaPex DG2 mining rigs.
Details on the data center weren’t shared.
The purchase will be completed using 15 million of Hyper Bit’s own shares, valuing the deal at $4.5 million.
The transaction is expected to be executed upon the completion of five milestones based on time passing (four months after the deal closes), the arrival of hardware,…
