Bitcoin Infrastructure Acquisition Corp Ltd (BIXI) is a blank-check special purpose acquisition company (SPAC) incorporated in the Cayman Islands that exists to identify and complete a single initial business combination with an operating target. The company holds IPO proceeds in a trust account, with public shareholders entitled to redeem shares at approximately $10.00 per share if no business combination is completed. BIXI has no operating revenues. Its sponsor is an affiliate of Meteora Capital, LLC, an investment adviser specializing in SPAC-related investments, whose principals provide advisory support, network access, and SPAC process expertise. Vikas Mittal, Managing Member and Chief Investment Officer of Meteora, serves as a director. The target business must have a fair market value equal to at least 80% of the trust account balance at the time a definitive agreement is executed, per the 10-K filed 2026-03-31. BIXI may pursue targets domestically or internationally, including in digital assets, technology, fintech, and other sectors where Meteora has sector experience.

Revenue model

BIXI generates no operating revenue. The company holds IPO proceeds in a trust account and earns interest on those funds prior to completing a business combination. Value realization depends entirely on completing an acquisition.

Products and services

The sole activity is sourcing, evaluating, and executing an initial business combination with an operating target business. No products or services are sold. The trust account holds funds for either the acquisition or shareholder redemption at approximately $10.00 per public share.

Customers and end markets

BIXI has no customers in the conventional sense. Its counterparties are target company sellers and its own public shareholders. Target sectors of interest, per the sponsor's disclosed experience, include digital assets, technology, media and telecommunications, fintech, energy, consumer and retail, business and distribution services, healthcare, and aerospace and defense.

Value-chain role

BIXI acts as a capital aggregation vehicle and acquisition shell. It pools public market capital into a trust, then deploys that capital to acquire a controlling interest in a private or public operating business, facilitating a de-SPAC transaction.

Geographic exposure

BIXI is incorporated in the Cayman Islands and may pursue target businesses in the United States or internationally. The 10-K filed 2026-03-31 discloses that cross-border combinations are explicitly contemplated, with associated foreign regulatory, political, and currency risks.

Source: SEC 10-K, filed 2026-03-31

Industry: Blank Checks