A new special purpose acquisition company (SPAC), Bitcoin Infrastructure Acquisition Corp Ltd, is looking to raise $200 million by offering 20 million shares at $10 each on the Nasdaq under the ticker “BIXIU.” This move is part of a growing trend of crypto firms going public.
Based in the Cayman Islands, the SPAC plans to merge with and take public an existing company in the crypto and Web3 space. The firm’s leadership believes they are well-positioned to identify key targets, including those in digital asset infrastructure, DeFi, and blockchain applications.
The company’s leadership team is composed of seasoned crypto professionals:
- CEO Ryan Gentry: Former head of business development at Lightning Labs and lead analyst at Multicoin Capital.
- CFO James “Jim” DeAngelis: A financial expert from risk adviser Kroll, which is involved in several crypto bankruptcy cases.
- Director Vikas Mittal: The CIO of Meteora Capital, which sponsored the SPAC that brought Bitcoin Depot public. Mittal also leads another crypto-focused SPAC that recently raised $230 million.
The board of directors is also stacked with crypto talent, including:
- Chair Parker White: Former director at Kraken and co-founder of a real-estate tech firm that pivoted to buying Solana.
- Matt Lohstroh: Co-founder of crypto miner Giga Energy.
- Tyler Evans: Co-founder of Bitcoin Magazine publisher BTC Inc and the investment firm UTXO Management.
This SPAC is one of several to recently close large IPOs, with two other crypto-focused blank-check firms raising a combined $575 million in just two days. This indicates significant Wall Street interest in bringing more private crypto companies to the public market.
August 2025, Cryptoniteuae
