Mining service provider Bitdeer has recently acquired physical asset storage Le Freeport in Singapore for reportedly $28.4 million.
Le Freeport (formerly known as Singapore Freeport) is located near Changi Airport and was created by analogy with the facilities in Geneva and Luxembourg. The concept of a free port is the storage of valuables and goods that are considered transit and therefore not subject to taxes and duties.
The purchase reportedly took place in July through a private deal.
Bitdeer CEO Jihan Wu has confirmed the takeover of Le Freeport.
The provider manages data centers in the US and Norway and provides services for the purchase of equipment for cryptocurrency mining, logistics, hosting and cloud mining.