BlocksInform
Bitfufu, a cloud-based mining company, is still delaying its listing on the public list through a special acquisition company (PSPC), since interest in the sector remains low.
The firm, part of Bitmain's family of companies, announced it would go public in January 2022 by merging with Arisz Acquisition Corp. (ARIZ). But it has now twice exercised its right to push the merger back by three months, with May 22, 2023, being the new deadline for the completion of the deal, according to a Tuesday press release. Bitfufu will not be in a position to postpone again the merger, the constitutive documents of per arisz.
That the cryptography industry continues to deviate from the demise of large corporations like ftx, the companies have reconsidered their intention to raise money on government procurement and to deal with the regulatory review that goes along with it.
Fellow miner Bitdeer might delay its public listing via SPAC to as late as December, according to a November 2022 filing. In December, stablecoin issuer Circlecrypto exchange Bullish cancelled their planned SPAC listings.
