Bitcoin News Today: Parataxis to Raise $640M via SPAC Merger and Buy $31M in Bitcoin

Parataxis Holdings, a digital asset investment firm, has announced a $640 million SPAC merger with SilverBox Corp IV, a special purpose acquisition company, to go public and form a Bitcoin treasury company listed on the New York Stock Exchange [1]. The transaction is expected to provide up to $640 million in gross proceeds, with $240 million directly from the merger and up to $400 million from an equity line of credit [2]. Of the initial proceeds, $31 million will be used to immediately purchase Bitcoin [3].

Under the merger agreement, Parataxis will operate as Parataxis Holdings and trade publicly under the ticker symbol “PRTX” [1]. The deal gives Parataxis access to public market capital, enabling it to scale its Bitcoin treasury operations with institutional-grade yield generation capabilities. The SPAC merger also allows SilverBox Corp IV, which previously had a muted performance in 2025, to gain exposure to the growing digital asset sector [4].

The move positions Parataxis to expand into both U.S. and South Korean markets. Earlier in June 2025, Parataxis acquired a South Korean biotechnology firm, Bridge Biotherapeutics Inc., renaming it Parataxis Korea to create the country’s first Bitcoin treasury platform [3]. This aligns with increasing regulatory and political support for cryptocurrencies in South Korea, including recent pledges by President Lee Jae-myung to legalize spot Bitcoin ETFs [3].

The stock price of SilverBox Corp IV saw a 1.32% increase following the announcement, with shares rising to $10.74 on August 7. This marks a notable rebound compared to the 3.37% drop it experienced from early July to mid-August [1]. The company also confirmed that any prior debt obligations had been repaid by early 2025, leaving no outstanding liabilities carried over to the SPAC [1].

Parataxis’s approach of using a SPAC to access public capital mirrors broader trends in the crypto industry, where firms such as Circle Internet Financial and Grayscale have recently pursued public listings [1]. The SPAC route allows for faster access to capital and investor interest, particularly as institutional demand for Bitcoin exposure continues to grow.

The merger highlights the ongoing convergence between traditional finance and crypto markets, with more firms adopting hybrid strategies to access liquidity and institutional investors. Parataxis’s decision to form a publicly traded Bitcoin treasury signals a growing acceptance of digital assets as part of mainstream financial infrastructure [3].

Source:

[1] Cointelegraph, Parataxis IPO: $640M SPAC Merger with SilverBox, (https://cointelegraph.com/news/parataxis-ipo-640-millon-spac-merger-silverbox)

[2] Crypto News, Parataxis to Go Public and Form a $640M Bitcoin Treasury Through SPAC Merger, (https://crypto.news/parataxis-to-go-public-and-form-a-640m-bitcoin-treasury-through-spac-merger/)

[3] AInvest, Bitcoin News Today: Parataxis Merges With SPAC to Raise $640M, (https://www.ainvest.com/news/bitcoin-news-today-parataxis-merges-spac-raise-640-million-public-bitcoin-treasury-company-2508/)

[4] MEXC, Crypto Market July Report: The Tariff War Enters a Desensitization Period, (https://www.mexc.com/news/crypto-market-july-report-the-tariff-war-enters-a-desensitization-period-and-three-major-dynamics-emerge-in-the-post-tariff-era/64052)