Latham & Watkins Advises Cipher Mining on SPAC Merger With Good Works

Cross-border team represents Bitcoin mining operation in the transaction, with a combined enterprise value of US$2 billion.

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.

 
 
Notice: We appreciate your interest in Latham & Watkins. If your inquiry relates to a legal matter and you are not already a current client of the firm, please do not transmit any confidential information to us. Before taking on a representation, we must determine whether we are in a position to assist you and agree on the terms and conditions of engagement with you. Until we have completed such steps, we will not be deemed to have a lawyer-client relationship with you, and will have no duty to keep confidential the information we receive from you. Thank you for your understanding.