Crypto execs team up for $200M Bitcoin Infrastructure Acquisition SPAC

A group of crypto industry executives has formed a Cayman Islands-based special purpose acquisition company (SPAC) called Bitcoin Infrastructure Acquisition Corp. Ltd. to raise $200 million and pursue a public listing by merging with an existing crypto business.

The SPAC intends to offer 20 million units at $10 each on the Nasdaq under the ticker "BIXIU." It says it will seek a target that builds core digital-asset and Web3 infrastructure, including wallets, custody services, exchanges, lending protocols, tokenized financial instruments and real-world blockchain applications such as payments, DeFi and cross-border finance.

Bitcoin Infrastructure Acquisition has not named a specific acquisition target yet and will focus on businesses that provide foundational infrastructure for the crypto ecosystem. The filing emphasizes the company’s goal of identifying firms involved in financial services infrastructure and other blockchain-driven business models.

The SPAC’s leadership includes Ryan Gentry as chief executive, who previously led business development at Lightning Labs and worked as a lead analyst at Multicoin Capital. James "Jim" DeAngelis has been named chief financial officer; he has held senior finance roles at Kroll. Vikas Mittal, chief investment officer of Meteora Capital, is a director and a sponsor of the offering — he has prior experience sponsoring SPACs that targeted crypto-related businesses.

The board also brings several crypto veterans: Parker White, formerly an engineering director at Kraken, will serve as chair; Matt Lohstroh, co-founder of crypto miner Giga Energy, and Tyler Evans, co-founder of BTC Inc and the investment firm UTXO Management, are among the directors. The filing highlights the team’s experience across exchanges, mining, media and investment firms.