Crypto executives file $200M BTC Infrastructure SPAC for Nasdaq
Bitcoin Infrastructure Acquisition Corp. Ltd. filed to raise $200 million through a Nasdaq listing under ticker BIXIU. The Cayman Islands-based blank-check company plans to merge with a digital finance or blockchain infrastructure business.
The SPAC will sell 20 million units at $10 each. Each unit contains one Class A share and half a warrant that can be exercised at $11.50. Cohen & Company Capital Markets serves as the sole bookrunner for the offering.
Ryan Gentry leads the company as CEO. He previously ran business development at Lightning Labs. James DeAngelis serves as chief financial officer. The board includes Vikas Mittal from Meteora Capital, Parker White as chair and former Kraken executive, Matt Lohstroh who co-founded Giga Energy, and Tyler Evans from UTXO Management and BTC Inc co-founder. Samara Acquisition Sponsor V Ltd. acts as the sponsor. The company lists its main offices in Boca Raton, Florida.
The filing states the company will target firms involved in digitizing financial infrastructure. The focus areas include digital assets, Web3 technologies, financial services infrastructure, and blockchain-driven business models. No specific acquisition target has been identified yet.
The warrants become exercisable 30 days after completing a business combination and expire five years later. The filing includes standard SPAC redemption rights and allows for up to 3 million additional units through an over-allotment option.
Crypto-related SPAC activity has increased in 2025. In the past two days, CSLM Digital Asset Acquisition Corp III and M3-Brigade Acquisition VI Corp raised a combined $575 million. Meteora-affiliated vehicles previously took Bitcoin Depot public in 2023. Several Bitcoin Infrastructure board members and management team members have worked at exchanges, mining companies, and Bitcoin investment firms.
The filing follows a pattern of cryptocurrency companies seeking public market access through SPAC mergers rather than traditional IPOs. The structure allows private companies to go public with more predictable timing and fewer regulatory hurdles than conventional public offerings.
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