Tether, the world’s largest stablecoin operator, has secured $100 million in shares from Bitdeer, a cryptocurrency mining firm founded by Jihan Wu. Additionally, Tether holds an option to acquire $50 million more in shares.
This investment involves 18,587,360 Class A ordinary shares and a warrant for 5,000,000 additional shares at $10.00 each. Following the announcement, Bitdeer’s stock price rose over 4% to $6.08, reflecting strong market confidence.
The partnership aims to enhance Bitcoin mining technology, with funds allocated to expand data centers and develop specialized ASIC-based mining rigs. Bitdeer’s chief business officer, Linghui Kong, emphasized the boost in growth and sustainability this investment brings.
Tether’s diversification includes a $200 million investment in Blackrock Neurotech and plans to expand its European presence through CitiPay.io. This strategic move underscores Tether’s commitment to advancing Bitcoin mining infrastructure and technology.
