Canadian Bitcoin Miner POW.RE to Acquire Swiss Firm Block Green
Mining
Jamie Redman
Canadian Bitcoin Miner POW.RE to Acquire Swiss Firm Block Green
Canadian bitcoin mining firm POW.RE Holdings Limited announced plans to acquire Swiss bitcoin liquidity protocol Block Green AG in a deal combining equity, bitcoin, and cash.
Canadian Bitcoin Miner POW.RE to Acquire Swiss Firm Block Green
POW.RE and Block Green Merge to Combine Mining and Financial Services
The acquisition, pending a definitive agreement within 90 days, aims to merge POW.RE’s sustainable mining operations with Block Green’s financial services for bitcoin miners. Under terms disclosed, POW.RE will acquire 100% of Block Green’s shares through an equity swap alongside bitcoin ( BTC) and U.S. dollar payments.
Block Green, regulated under Swiss law and backed by investors including Founders Fund and Coinbase Ventures, provides liquidity solutions such as revenue-streaming and hedging tools for miners. POW.RE operates hydroelectric-powered facilities in Canada and Paraguay and specializes in hashrate management technology. The companies anticipate synergies, including expanded market access through Block Green’s mining industry partnerships.
This includes diversified revenue streams and enhanced regulatory positioning via Block Green’s Swiss license and pending European Union (EU) approvals. POW.RE will commit a 24-month baseload of hashpower to Block Green’s marketplace post-acquisition. Block Green CEO Sebastien Hess will join POW.RE’s board, while Block Green’s team will remain to ensure continuity.
The deal is subject to regulatory approvals and closing conditions. POW.RE framed the move as a step toward building bitcoin credit infrastructure, while Block Green highlighted scalability benefits for its financial products. Neither disclosed the financial terms associated with the deal. Both firms will maintain operations in Montreal and Rottreuz, Switzerland, post-transaction.
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