In July of this, in a private transaction, Wu-led Bitdeer Technologies Holding Co. acquired a highly secure warehouse and exhibition complex in Singapore for US$28.4 million. Prior to the deal, Le Freeport had been up for sale since 2017.
The Singapore vault was designed and built by a team of Swiss architects and engineers. The vault contains gold and silver bars, gems and works of art from shareholders led by Swiss art dealer and company founder Yves Bouvier, Kitco News reported.
Jihan Wu is a major figure in the crypto industry. He founded Bitmain Technologies Ltd, the largest bitcoin mining hardware maker with $5.6 billion in revenue. Wu left the company in 2021 and now leads bitcoin mining spin-off Bitdeer and cryptofinance company Matrixport.
Wu is also currently working on setting up a $250 million fund to buy assets from struggling miners. “We can buy cheaper mining equipment and run it at our existing facilities with stable and cost-effective power purchase agreements,” Bitdeer CEO Matt Kong told Bloomberg.