blockfuel

ChainCatcher news, Innovation Beverage announced that it has signed a non-binding letter of intent for a merger transaction with BlockFuel Energy Inc. (BlockFuel) in Texas, USA, to acquire the company through a reverse triangular merger. Upon completion of the transaction, Innovation Beverage will expand its high-performance data center and Bitcoin mining business in the North American market. Although the acquisition amount has not been disclosed, it is reported that the valuation of the new company after the merger is approximately $220 million to $343 million.