On Monday, W3BCloud, a firm building global data centers for the Web3 and blockchain sectors, announced that it was going public via a takeover by special purpose acquisition vehicle (SPAC) Social Leverage Acquisition Corp I.
Social Leverage Acquisition Corp I is listed on the New York Stock Exchange, 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. Joseph Lubin, the founder of ConsenSys and co-founder of Ethereum, currently serves on W3BCloud's board of directors. The firm is tailored to th storage, staking, and computing infrastructure in anticipation of a Web3 boom, projecting 685% growth in its revenue in 2023 compared with 2021.
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