A team of crypto veterans has filed to raise $200 million through a Special Purpose Acquisition Company (SPAC), with the aim of taking a Bitcoin-related infrastructure firm public. The company, Bitcoin Infrastructure Acquisition Corp. Ltd., is registered in the Cayman Islands and plans to list on Nasdaq under the ticker “BIXIU”, offering 20 million units at $10 each (Cointelegraph).
Purpose and Focus
The SPAC remains unaligned with a specific merger target but is clearly positioning itself to acquire companies in sectors like digital assets, Web3 technologies, financial services infrastructure, and other blockchain-powered business models. This includes foundational infrastructure such as wallets, custody platforms, exchanges, lending protocols, tokenized financial instruments, as well as use cases in payments, DeFi, and cross-border finance.
Experienced Leadership Team
- Ryan Gentry, the CEO, brings strategic leadership from his previous roles in business development at Lightning Labs and as an analyst at Multicoin Capital.
- Jim DeAngelis, serving as CFO, comes from a background at Kroll, handling finance in major crypto-related bankruptcy cases.
- Vikas Mittal, director and CIO of Meteora Capital, brings SPAC experience, having been involved in M&A deals—such as the one that took Bitcoin Depot public in 2023 (Renaissance Capital).
The board also includes Parker White, a former engineering director at Kraken, now COO/CIO of DeFi Development Corporation, supported by independent directors with deep roots in crypto and Bitcoin-native entrepreneurship (Cointelegraph; Boardroom Alpha).
Why This Matters
- Rising appetite for crypto infrastructure: The move underscores growing investor interest in foundational blockchain companies rather than speculative token plays.
- Continuing SPAC surge in crypto: This SPAC joins a broader wave of crypto-centric listings, with billions raised this year alone through similar vehicles (Bitcoinist; Crypto Times).
- Strategic capital deployment: The structure offers flexibility—investors can redeem their shares if no target is found within a set timeframe, safeguarding capital while allowing the SPAC to move quickly when opportunity strikes (Renaissance Capital).
Summary Snapshot
| Feature | Detail |
|---|---|
| SPAC Name | Bitcoin Infrastructure Acquisition Corp. Ltd. (Nasdaq: BIXIU) |
| Target Funds | $200 million via 20 million units at $10 each |
| Leadership Team | Ryan Gentry (CEO), Jim DeAngelis (CFO), Vikas Mittal (Director) |
| Focus Areas | Wallets, custody, exchanges, lending, tokenized instruments, DeFi, cross-border payments |
| Strategic Edge | Experienced crypto infrastructure execs + SPAC flexibility |
