A team of seasoned cryptocurrency executives, led by former Lightning Labs business development head Ryan Gentry, has filed to raise $200 million through a special purpose acquisition company (SPAC) called Bitcoin Infrastructure Acquisition Corp. Ltd. The Cayman Islands-based entity filed with the US Securities and Exchange Commission on Wednesday, August 28, 2025, to offer 20 million shares at $10 each and plans to list on Nasdaq under the ticker BIXIU.
The blank-check company has not yet selected a specific merger target but stated it will focus on acquiring firms operating in digital assets, Web3, financial infrastructure, and blockchain-powered sectors. This includes specific areas such as wallets, custody platforms, exchanges, lending protocols, tokenized financial tools, payments, decentralized finance (DeFi), and cross-border finance.
The leadership team boasts significant crypto industry experience. CEO Ryan Gentry previously led business development at Lightning Labs (developers of Bitcoin's Lightning Network) and was an analyst at venture fund Multicoin Capital. CFO Jim DeAngelis recently led finance at risk advisory firm Kroll, which has been involved in major crypto bankruptcies including FTX, BlockFi, and Genesis. Vikas Mittal, CIO of Meteora Capital (the SPAC's sponsor), joins as a director. The board is chaired by Parker White, former Kraken engineering director and current COO at DeFi Development Corporation, and includes other notable figures like Giga Energy co-founder Matt Lohstroh and Bitcoin Magazine publisher co-founder Tyler Evans.
This launch occurs amid a surge in crypto-linked SPAC activity. Just this week, two other SPACs—CSLM Digital Asset Acquisition Corp III and M3-Brigade Acquisition VI Corp—raised a combined $575 million in two days. The wave of interest follows successful public debuts by crypto firms like Circle, whose shares surged nearly 10x from their offering price, and Bullish, which more than tripled on its first trading day.