A PYMNTS Company

PrimeBlock Terminates $1.25B Merger Deal

 |  August 17, 2022

Bitcoin miner PrimeBlock has dropped its plan of public listing via merger with blank check company 10X Capital Venture Acquisition (VCXA).

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    According to a SEC filing, PrimeBlock and VCXA terminated their agreement by mutual consent on August 12. 

    The $1.25 billion deal was announced in April and was supposed to be completed by the second half of 2022. No official reason has been given for termination of the deal, although the recent uncertainty in the crypto markets could be a factor.

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.