--News Direct--
POW.RE Holdings Limited ("POW.RE"), a leading sustainable Bitcoin mining technology company, and Block Green AG ("Block Green"), a Switzerland-based Bitcoin liquidity protocol and financial services platform, today announced they have entered into a letter of intent for POW.RE to acquire Block Green with a view to execute a definitive agreement. This strategic combination marks a significant milestone in the evolution of Bitcoin mining financial services and infrastructure.
Under the terms of the agreement, POW.RE would acquire 100% of Block Green's shares through an equity swap along with additional consideration in Bitcoin and USD.
The complementary strengths of both companies create a uniquely positioned entity in the Bitcoin ecosystem, combining POW.RE's sustainable mining operations and hashrate management technology stack with Block Green's financial products for Bitcoin miners and datacenter operators.
"This strategic combination would represent a transformative step forward in our mission to build a comprehensive Bitcoin credit infrastructure platform," said Mike Cohen, CEO of POW.RE. "Block Green's innovative financial solutions and regulatory framework align perfectly with our vision to expand beyond traditional Bitcoin mining operations. Together, we'll create new revenue streams while offering miners and investors access to sophisticated financial tools built on Bitcoin and powered by hashrate."
Block Green, backed by Peter Thiel's Founders Fund, Coinbase Ventures, and FJ Labs, has established itself as a pioneer in Bitcoin-native financial services. The company provides revenue-streaming products, lending, and hedging solutions for Bitcoin miners and data center operators, enabling them to access immediate liquidity based on future mining rewards.
“Joining forces with POW.RE allows us to scale our financial products across a larger hashrate portfolio and market presence," said Sebastien Hess, CEO of Block Green. "Our combined regulatory frameworks, technological capabilities, and market access create a uniquely positioned entity that can offer truly innovative financial solutions to the entire Bitcoin ecosystem."
The transaction is expected to create significant operational and financial synergies:
● Enhanced market access through Block Green's established relationships with major Bitcoin mining companies and liquidity providers
● Expanded product offerings combining POW.RE's hashrate portfolio and software with Block Green's platform
● Strengthened regulatory position through Block Green's Swiss financial intermediary license and upcoming EU MiCA license applications
● Diversified revenue streams providing stability during fluctuating mining economics.
Following the transaction, POW.RE will commit a baseload of hashpower to be flexibly deployed on Block Green's hashrate marketplace for at least 24 months, accelerating the platform's growth. The Block Green team will remain with the company to ensure strategic continuity and drive future innovation. Sebastien Hess will be appointed to POW.RE's board of directors, his entrepreneurial experience and his background in finance and technology will be a valuable addition to the combined entity’s governance.
The parties expect to reach a definitive agreement within 90 days, subject to customary closing conditions and regulatory approvals.
About POW.RE
POW.RE is a sustainable Bitcoin mining company operating facilities powered by hydroelectric energy in Paraguay and Northern Canada. The company focuses on deploying high-density computation centers and offering tools to facilitate hashrate transactions.
About Block Green
Block Green is a Switzerland-based Bitcoin liquidity protocol offering innovative financial solutions for the data center industry. The company's platform enables Bitcoin miners and high-performance computing operators to access immediate liquidity through revenue-streaming products, lending, and hedging solutions. Block Green is regulated as a financial intermediary under Swiss law and backed by leading investors including Peter Thiel's Founders Fund, Coinbase Ventures, and FJ Labs.
This press release contains forward-looking statements. Actual results may differ materially from those indicated by such forward-looking statements as a result of various risks and uncertainties
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View source version on newsdirect.com: https://newsdirect.com/news/canadian-bitcoin-miner-pow-re-announces-strategic-acquisition-of-swiss-hashrate-brokerage-firm-block-green-to-expand-bitcoin-financial-services-167812354
