Today, Cipher Mining Technologies announced that it plans to go public through a merger with Good Work Acquisition Corp. Cipher Mining was recently founded as a subsidiary of the Dutch Bitcoin mining company Bitfury

“The combined company, which will be renamed Cipher Mining Inc, is expected to be listed on the Nasdaq under the ticker symbol ‘CIFR’,” Reuters reported.

Following the merger with Good Work, which values ​​the combined company at $ 2 billion, the merged company is expected to be the largest bitcoin mining operation in the US, the announcement said. By merging with Good Works, a special purpose acquisition company (SPAC), Cipher can bypass the traditional IPO system by going public.



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