Get all your news in one place.
100's of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Triveni Kothapalli

Innovation Beverage Surges After Striking Merger Deal With Bitcoin Energy Player BlockFuel

Mining,Golden,Bitcoins

Innovation Beverage Group Ltd (NASDAQ:IBG) shares are surging on Wednesday after it agreed to merge with BlockFuel Energy Inc., an oil and gas explorer and power generation company supporting Bitcoin (CRYPTO: BTC/USD) mining and high-performance data centers.

Under the deal, IBG will merge with BlockFuel (BFE) in a reverse triangular merger, a newly formed IBG subsidiary will merge with and into BFE, with BFE emerging as the surviving entity and becoming a wholly owned subsidiary.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.