Prime Blockchain, also known every bit PrimeBlock, is reportedly preparing for a public offer in the United States through a special-purpose acquisition company, or SPAC.

In a Thursday written report, Bloomberg said Bitcoin (BTC) mining firm PrimeBlock is currently discussing going public in the U.S. through a merger with 10X Capital Venture Acquisition Corp Two. Though the terms of the bargain are reportedly not nevertheless finalized, the merger could result in a valuation of the ii firms at roughly $1.v billion following a $150 meg fundraising round from the venture capital firm.

A crypto mining company based in the United States, PrimeBlock rolled out its offset operations in Tennessee and North Carolina in September. The firm announced on November. four it had appointed Goldman Sachs veteran Gaurav Budhrani as the company'south CEO and old tZERO chief legal officer Alan Konevsky as its chief legal officeholder.

As of November. 4, PrimeBlock reported it held more than 10,300 rigs equipped for BTC mining, every bit well as 2,600 Ether (ETH) miners. According to Bloomberg, the visitor currently mines roughly five BTC daily, operating at a hash charge per unit of one exahash.

Related: These publicly traded firms are pulling institutions into crypto

Other crypto firms accept used the SPAC road to go public in the Usa. In March, Bitfury's U.S. subsidiary Cipher Mining said it would be merging with Adept Works Acquisition Corp as function of a $2 billion bargain to get a publicly listed company. Bitcoin miner Core Scientific is also set for a public list on Nasdaq following a $4.three billion merger with Ability and Digital Infrastructure Acquisition Corp.

Cointelegraph reached out to PrimeBlock, but did not receive a response at the fourth dimension of publication.