Innovation Beverage to Acquire BlockFuel, Entering the Bitcoin Mining Market

BlockBeats News, September 24th, Innovation Beverage, a Nasdaq-listed company, announced that it has signed a non-binding Letter of Intent for a merger transaction with BlockFuel Energy Inc. (BlockFuel) based in Texas, USA, planning to acquire the company through a reverse triangular merger.

Upon completion of the transaction, Innovation Beverage will enter the North American high-performance data center and Bitcoin mining market. The acquisition amount has not been disclosed, but it is said that the post-merger new company is valued at between $2.2 billion and $3.43 billion. (Globenewswire)