Bitdeer Technologies Holding Co entered into an Agreement and Plan of Merger to acquire Blue Safari Group Acquisition Corp. (NasdaqCM:BSGA) from BSG First Euro Investment Corp. and others in a reverse merger transaction on November 18, 2021. The merger agreement may be terminated by mutual consent of Blue Safari and Bitdeer; by either Blue Safari or Bitdeer if the transaction is not consummated on or before May 31, 2022, provided that the terminating party's failure to fulfill any of its obligations under the merger agreement is not the primary cause of the failure of the acquisition closing to occur by such date. The transaction is subject to certain customary closing conditions by the parties thereto, including, among others, (i) approval of the Transactions by the shareholders of Blue Safari and Bitdeer; (ii) effectiveness of the Registration Statement; (iii) expiration or termination of the waiting period under antitrust laws; (iv) receipt of approval for listing on the Nasdaq Capital Market of Blue Safari's ordinary shares; and (v) Blue Safari shall have at least $5,000,001 of net tangible assets. Bitdeer Technologies Holding Co and Blue Safari Boards of Directors have unanimously approved the transaction. The transaction is expected to be completed in the first quarter of 2022. As of June 1, 2022, the transaction is expected to close on September 14, 2022. As of September 6, 2022, expected completion date has been extended to December 14, 2022. As of December 6, 2022, expected completion date has been extended to March 14, 2022. Will H. Cai of Cooley LLP and Travers Thorp Alberga are serving as legal advisors China Renaissance Securities (Hong Kong) Limited is serving as financial advisor to Bitdeer Technologies Holding Co. Howard Zhang of Davis Polk & Wardwell LLP, Haiwen & Partners and Nathan Powell, Jenson Ng and Vicky Wu of Ogier are serving as legal advisors to Blue Safari. IJW & Co., Ltd. acted as fairness opinion provider and Continental Stock Transfer & Trust Company acted as transfer agent for Blue Safari Group Acquisition Corp. As of March 23, 2023, Blue Safari Group Acquisition Corp filled the proxy statement for the extraordinary general meeting of shareholders. On July 26, 2021, BSGA signed a non-binding letter of intent with Bitdeer. As of March 27, 2023, U.S. Securities and Exchange Commission has declared effective the registration statement of Bitdeer Technologies Group on Form F-4. As of April 11, 2023, Blue Safari's shareholders approved the transaction. The Business Combination is expected to close on April 13, 2023.

Davis Polk & Wardwell LLP, Beijing, Haiwen & Partners, Royson Valuation Advisory Limited, Shook Lin & Bok LLP acted as due diligence provider to Blue Safari Group Acquisition Corp. Royson Valuation Advisory Limited acted as fairness opinion provider to Blue Safari Group Acquisition Corp. for non-contingent fixed fee of US$0.22 million.

Bitdeer Technologies Holding Co completed the acquisition of Blue Safari Group Acquisition Corp. (NasdaqCM:BSGA) from BSG First Euro Investment Corp. and others in a reverse merger transaction on April 13, 2023. As of May 31, 2023, with the consummation of the Business Combination Jihan Wu and Victory Courage entered into a lock-up agreement. Wu, through Victory Courage, received an aggregate of 48.4 million class V ordinary shares of the BTDR.