VCV Digital Technology Set to Go Public Through $381.4 Million SPAC Merger Deal

VCV Digital Technology, a U.S.-based digital asset infrastructure provider, has secured a path to public markets through a definitive merger agreement with Fortune Rise Acquisition Corporation. The combined entity is anticipated to commence trading on Nasdaq under the ticker symbol “XVC,” marking a significant milestone for the rapidly expanding blockchain computing sector.

Transaction Valuation and Deal Structure

The proposed business combination values the merged company at approximately $381.4 million in pro forma equity value, translating to an enterprise value of $294.1 million. The transaction is designed to inject roughly $99.7 million in gross proceeds from Fortune Rise’s trust account, contingent on minimal public shareholder redemptions.

Notably, all pre-closing shareholders of VCV Digital Technology are committing their 100% equity stakes to the combined entity, demonstrating strong insider confidence. The deal incorporates an additional $100 million in earnout consideration structured in tranches tied to operational milestones—specifically, the deployment of 4,500 to 10,500 miners through April 30, 2023. Upon closing, VCV shareholders are projected to control approximately 72.7% of the combined company’s shares.

The VCV Digital Technology Advantage

VCV Digital Technology operates as a dual-entity platform combining Sigma and Gamma’s complementary mining operations, all based within the United States. The company provides comprehensive blockchain infrastructure solutions spanning self-mining, leased mining, and managed hosting services with renewable energy sourcing capabilities.

The organization boasts substantial firepower: affiliated operations can deliver up to 1,000 megawatts of hosting capacity across multiple development phases. Management brings deep investment banking expertise and established relationships with equipment manufacturers, global distributors, and an extensive lender network—advantages that have already facilitated rapid equipment financing and acquisition scaling.

Proof of execution is evident in financial results. Sigma generated $5.2 million in net income during fiscal 2021, underscoring operational efficiency in an expanding market segment.

Market Tailwinds Accelerating Growth

The U.S. digital asset mining industry is experiencing unprecedented tailwinds. Following China’s June 2021 crackdown on domestic cryptocurrency mining operations, American facilities have captured dramatically increased global hash rate share. According to Cambridge Centre for Alternative Finance data, the U.S. share of worldwide Bitcoin computing power surged from just 4.1% in September 2019 to 35.4% as of August 2021—securing the top position globally.

VCV Digital Technology leadership anticipates these favorable dynamics will continue propelling sector growth, positioning the combined company to capitalize on sustained demand for computing infrastructure across the Web3 ecosystem.

Leadership Vision and Timeline

Jerry Tang, Co-Founder and CEO, emphasized the strategic importance of Nasdaq listing: “Public market access unlocks substantially larger capital pools and elevates our international presence. We’re positioned to leverage these resources to accelerate our leadership trajectory in sustainable blockchain computing infrastructure.”

Lei Huang, CEO of Fortune Rise, added: “This merger delivers innovative digital asset mining solutions to public capital markets while creating compelling shareholder value through the combined entity’s growth prospects.”

The transaction received unanimous board approval from all parties and has secured commitments from substantial pre-closing shareholders to vote in favor. Completion is anticipated in the third quarter of 2022, subject to regulatory clearance and customary closing conditions.

Strategic Positioning in Web3 Infrastructure

Beyond Bitcoin mining specifically, VCV Digital Technology intends to expand computing infrastructure services across the broader blockchain ecosystem as decentralized networks proliferate. Management believes Web3 computing infrastructure will ultimately displace centralized platform models through superior transparency, security, privacy protection, and censorship resistance attributes—positioning the company at the infrastructure layer of this technological transition.