March 05, 2021
Latham & Watkins advised Cipher Mining
Technologies Inc., a newly formed U.S.-based Bitcoin mining operation created
by Bitfury, a leading global provider of Bitcoin mining hardware and other
blockchain software and services, on its definitive agreement for a business
combination with Good Works Acquisition Corp., a U.S. publicly-traded special
purpose acquisition company (SPAC). Upon
closing of the transaction, the combined company will be named Cipher Mining
Inc. and is expected to be listed on the Nasdaq under the new ticker symbol
“CIFR”. The transaction values the combined company at an enterprise value of
US$2 billion.
The Latham team was led by partners David
Stewart and Ryan Maierson, with counsel Yoseph Choi, and associates Daria
Latysheva and Adam Czernikiewicz. Advice on technology matters was provided by
partner Christian McDermott and associate Alain Traill; on tax matters by
partner Pardis Zomorodi and associate Abigail Friedman; and on employment
matters by partner Bradd Williamson and associate Leah Segall.