Bitdeer Acquired Le Freeport Storage
Mining company Bitdeer, owned by Bitman co-founder Jihan Wu, bought Singapore's most secure vault, Le Freeport, in July for SGD 40 million (USD 28.4 million). Wu Jihan also confirmed the deal.
Le Freeport, formerly known as Singapore Freeport, is a highly secure storage and exhibition center in Singapore. Wu, known as Asia Fort Knox, bought a treasure trove of art, jewelry and bullion from a Swiss art dealer and shareholders led by founder Yves Bouvier, according to People.
Le Freeport was built and opened in 2010 for SGD 100 million, almost $71 million. About 75% of the purchase price went to lenders, including DBS bank, while Yves Bouvier, who once owned a 70% stake in Le Freeport and other shareholders received approximately S$5 million after debt repayment and expenses.
Last year, Bitman co-founder Jihan Wu officially announced that he was leaving leading cryptocurrency mining company Bitmain Technology Co. Ltd to resolve a longstanding internal power struggle with rival co-founder James Maley.
Bitman co-founder Jihan Wu has officially announced that he is stepping down from leading cryptocurrency mining company Bitmain Technology Co.Ltd to resolve a longstanding internal power struggle with rival co-founder James Meili.
After the settlement, Wu will lead Bitdeer, a Norwegian-American cloud mining company that was spun off from Bitmain. He will become the chairman of the company, and Kong Linghui will become the chief executive officer of the new company.
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