Tether Supports XXI, Strike, and Elektron Merger to Boost Bitcoin Operations
- Tether Investments has proposed a merger between XXI Capital and Jack Mallers’ Strike, with the deal announced on April 29, 2026.
- The merger includes Elektron Energy’s mining fleet, which contributes approximately 50 exahash per second (EH/s), representing about 5% of the global Bitcoin network hashpower.
- Raphael Zagury is set to lead the new XXI entity, focusing on expanding bitcoin accumulation strategies and financial services.
- Elektron Energy has produced over 5,500 bitcoins with a production cost below $60,000 per coin.
- The merger aims to create a comprehensive platform encompassing mining, lending, capital markets, and financial services.
Tether’s proposal to merge XXI Capital with Strike and Elektron Energy signals a significant move towards vertical integration in the Bitcoin industry. By combining financial services with large-scale infrastructure, the new entity seeks to enhance its operational efficiency and expand its market footprint.
The integration of Elektron’s substantial mining capacity positions the merged entity as one of the most efficient operators in the sector, aiming for long-term bitcoin accumulation despite market volatility. (Source)
