Spider Digital to go public in $250M crypto-mining SPAC deal
What's the deal? Spider Digital Technology, which runs a cryptocurrency mining pool, has agreed to go public in the US through a business combination with Starlink AI Acquisition CorporationDealroom has a profile for this one. Try Dealroom → (NYSE: OTAI). The definitive agreement, dated October 30, 2026, values Spider Digital at $250 million.
How it works: Both companies would become subsidiaries of a new holding company, Spider Digital Technology Group, expected to list on the NYSE. The deal needs approval from shareholders of both parties, the US Securities and Exchange Commission and the exchange.
Why now? Spider Digital, based in Singapore, says the move offers a path into US public markets. "We believe this proposed Business Combination represents an important milestone for Spider Digital," said founder and chief executive officer Chen Hua, calling it a platform to "broaden our market presence."
What's the endgame? Starlink AI is a blank-check company — a vehicle built to merge with a private business and take it public. Its chief executive officer Gus Liu said the transaction aims to support Spider Digital's "next stage of development."
What could go wrong? The announcement alone does not guarantee the deal closes, and the forthcoming Form F-4 registration statement will reveal detail on operating performance, financing and dilution. The headline valuation matters less than those numbers.
The signal: The deal fits a trickle of crypto-mining SPAC activity; Atlantic HPC GroupDealroom has a profile for this one. Try Dealroom → disclosed a $150 million SPAC deal in September. Spider Digital's $250 million valuation is larger, though the businesses may not be directly comparable.
Read more: globenewswire.com
Image credit: goro
