Tether, the company behind the world’s largest stablecoin, has invested $150 million in Bitdeer, the cryptocurrency mining firm led by Jihan Wu.
According to an announcement on May 31, Tether has agreed to buy up to $150 million worth of Bitdeer shares in a private deal. This investment includes 18,587,360 Class A ordinary shares and a warrant to purchase an additional 5,000,000 shares at $10.00 per share.
The deal has already raised $100 million as of May 30, with the potential to bring in another $50 million if the warrant is fully used.
Bitdeer plans to use this new funding to expand its data centers, develop new mining equipment, and for other projects. Linghui Kong, Bitdeer’s Chief Business Officer, expressed excitement about the investment, stating that Tether’s support will help Bitdeer grow faster and maintain its lead in efficient and sustainable Bitcoin mining.
Tether CEO Paolo Ardoino praised Bitdeer’s advanced technology and strong research and development. He emphasized that Tether looks forward to working closely with Bitdeer on several key infrastructure projects in the future.
Summary Review: Tether’s significant $150 million investment in Bitdeer marks a notable step forward for both companies. This partnership aims to enhance Bitdeer’s data center expansion and technological development in the Bitcoin mining industry. With Tether’s support, Bitdeer is well-positioned to advance its leadership in sustainable and efficient cryptocurrency mining, while Tether anticipates a fruitful collaboration that aligns with its long-term strategic goals.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
