Blockchain cloud infrastructure company W3BCloud to go public via $1.25B SPAC

W3BCloud has announced that it is going public via a takeover by special purpose acquisition vehicle (SPAC) Social Leverage Acquisition Corp I. ‍

W3BCloud builds global data centers for the Web3 and blockchain sectors.

Social Leverage Acquisition Corp I is listed on the New York Stock Exchange and has $345 million in trust and has received commitments from AMD, ConsenSys, SK Inc., and others for an additional $50 million in new investments.

The combined transaction will value W3BCloud at $1.25 billion.

Last year, W3BCloud’s seven data centers, all of which are located in the United States, generated $40 million in sales, with 85% operating on renewable energy.

W3BCloud targets decentralized finance, nonfungible tokens and Metaverse projects, as well as tech firms seeking to enter the blockchain space as its core clients.