Crypto Miner Bitdeer Makes Delayed SPAC Debut in Changed Market

Crypto miner Bitdeer Technologies Holding Co. started trading on the Nasdaq Friday after a long-delayed SPAC deal finally closed, allowing shares of the Singapore-based company to be traded in the US.

Bitdeer — owned by Chinese billionaire Jihan Wu — first agreed to merge with Blue Safari Group Acquisition Corp., a special purpose acquisition company, in November 2021. But the transaction was delayed multiple times amid turmoil in the crypto market.

The stock traded at $8.22 per share at 9:33 a.m. in New York, an 18% decline from the $10 per share Blue Safari closed at on Thursday.

The ...