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SPAC/IPO for ASIA'S LARGEST BITCOIN MINER

Client

Asia's Largest Bitcoin Miner

Year

2022

Location

Southeast Asia

Industry

Cryptocurrency

Fintech

Advised on logistical, compliance, policy, partnership considerations, and SPAC/IPO negotiations for the largest Bitcoin mining facility in Asia looking to enter the US. Provided market analysis and feasibility studies, built financial models, and conducted site visits and selection for the client as needs evolved. 

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Worked with US legal, accounting, tax, and customs law professionals and government officials from the U.S. agencies to advise on and structure negotiations.

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Christina served as a key consultant for Asia's largest bitcoin miner, which was looking to move its operations to the United States. She launched a full financial review of SPAC SEC filings, reviewed potential sites' legal proposals, and worked with key stakeholders and potential partners to compare costs, rates, and terms.

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She advised on the overall U.S. mining plan, leading face-to-face negotiations between parties in California and Texas. She successfully negotiated terms that resulted in a $30 million price cut, delayed vesting of management stock, and increased cash contribution.

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She also conducted extensive research on relevant tax, legal, and customs law, holding numerous meetings with power suppliers,  miners manufacturer (BITMAIN), legal, accounting, tax, and customs law professionals, and government officials from U.S. agencies (Internal Revenue Services, Department of Energy, and Department of Commerce) to discuss U.S. mining operation, U.S. power policy as well as manage risk and advise on compliance matters.

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She presented a potential sourcing opportunity in acquiring an industrial site and power plant ownership, and reviewed proposals from several CEOs to negotiate SPAC/IPO terms, energy suppliers, existing mines, and power capacity. She created a team of real estate attorneys, environmental attorneys, local officials, civil engineers, mechanical engineers, and electrical engineers to conduct due diligence on the site, holding numerous meetings with the acquisition target's management team, attorneys and engineers, tax attorneys, SEC attorneys, and U.S. Customs.

 

With her strong analytic skills, Christina built complex and comprehensive financial modeling with considerations of power cost, infrastructure capacity, capital expenditure, mining productivity, global hash rate, market crypto price, deprecation, and taxation for an in-depth pro forma financial analysis. She also conducted extensive industry analysis on bitcoin mining companies for fair market valuation.

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She also traveled from California to Texas for the 2022 Empower: Energizing Bitcoin event on behalf of clients, providing professional simultaneous translation services for business meetings.

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