TechFlow, September 24 — According to Globenewswire, Innovation Beverage, a Nasdaq-listed company, announced it has signed a non-binding letter of intent with BlockFuel Energy Inc. (BlockFuel) in Texas, USA, to acquire the company through a reverse triangular merger. Upon completion of the transaction, Innovation Beverage will expand into high-performance data centers and Bitcoin mining operations in the North American market. Although the acquisition amount has not been disclosed, the estimated valuation of the combined entity after the merger is reported to be between $220 million and $343 million.
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