Jihan Wu-Backed Crypto Miner Bitdeer Acquires ‘Singapore’s Fort Knox’ for $28.4 Million

Sources person disclosed that the integer currency mining operation, Bitdeer Technologies, has purchased a high-security retention and show installation successful Singapore called Le Freeport for $28.4 million. Bitdeer’s chairman, Jihan Wu, confirmed the vault acquisition via a substance connection pursuing the reports that revealed the mining steadfast purchased Le Freeport.

Bitdeer Purchases Maximum Security Vault Le Freeport From Yves Bouvier, DBS

After the co-founder of Bitmain Technologies Jihan Wu near the company, helium co-founded a steadfast called Matrixport and he’s besides the president of Bitdeer Technologies. According to a study published by Bloomberg, that cites sources acquainted with the matter, Bitdeer paid S$40 cardinal ($28.4 million) for the maximum information vault known arsenic Le Freeport.

The vault was primitively constructed to beryllium similar to the high-security retention vaults located successful Luxembourg and Geneva. Freeport has besides been dubbed “Singapore’s Fort Knox for good creation and collectibles.” Freeport was primitively built for S$100 cardinal and the latest acquisition by Bitdeer paid disconnected a important magnitude of indebtedness to creditors similar DBS and the vaults erstwhile proprietor Yves Bouvier.

The vault has been for merchantability since 2017, and the high-security retention installation has had a ample fig of good known firm clients. Before 2018, the luxury auction location Christie’s erstwhile rented much than a 3rd of Freeport’s retention space. Deutsche Bank erstwhile leveraged Freeport to location much than $8.9 cardinal successful golden bullion.

Bloomberg’s Ranjeetha Pakiam, Chanyaporn Chanjaroen, and Zheping Huang item that Bouvier and Freeport’s different shareholders “received astir S$5 cardinal from the sale.” However, the sources bash not disclose what Bitdeer aims to bash with the facility, but pursuing the archetypal report, Jihan Wu confirmed the Freeport acquisition with the Bloomberg authors via text.

During the past year, Bitdeer has been making a fig of concern moves similar investing $25 cardinal into a installation based successful Texas successful May 2021. Five days later, Bitdeer announced unreality hosting, which allows “retail miners to make gross with 1 mining machine.”

At the extremity of June 2021, Bitdeer revealed the company’s Antbox products and past October, the institution introduced Filecoin mining services. The sources who disclosed the latest acquisition of Freeport successful Singapore, besides elaborate that Bitdeer is researching going nationalist done a Special Purpose Acquisition Company (SPAC) woody via a blank cheque company.

Bitdeer is not the lone crypto steadfast to acquisition a high-security vault oregon bunker system. Xapo’s bunker successful the Swiss mountains is conscionable arsenic extravagant and reportedly millionaires stored their bitcoins there. Last week, reports indicated that the bitcoin mining cognition Arsenal Digital Holdings (OTCMKTS: ADHI) acquired an underground information halfway extracurricular Houston. Some radical fishy it’s Westland Oil’s infamous two-story subterranean field fallout bunker.

What bash you deliberation astir Bitdeer acquiring ‘Singapore’s Fort Knox’ different known arsenic Le Freeport? Let america cognize what you deliberation astir this taxable successful the comments conception below.