Bitdeer, a cryptocurrency mining company led by Jihan Wu, is obtaining fresh capital from Tether, the entity behind the renowned stablecoin, Tether (USDT). In a recent move, Tether has engaged in a subscription agreement with Bitdeer, planning to invest up to $150 million in a private placement deal. The agreement involves the purchase of 18,587,360 Class A ordinary shares and a warrant for acquiring an additional 5,000,000 shares at a fixed price of $10 each. The initial transaction has already generated $100 million from the share issuance, with the potential for an extra $50 million if the warrant is fully utilized. The raised funds will be utilized by Bitdeer for expanding its data centers, developing ASIC-based mining rigs, and other operational needs. The partnership with Tether is seen as a significant step for Bitdeer, with the company's chief business officer, Linghui Kong, expressing enthusiasm about the collaboration's potential to drive growth in sustainable bitcoin mining. Paolo Ardoino, the CEO of Tether, commended Bitdeer for its advanced technology and strong research and development initiatives, labeling it as a leading player in the Bitcoin mining sector. Ardoino expressed optimism about the alignment of Bitdeer's track record and management team with Tether’s strategic vision, hinting at future collaborations in vital infrastructure aspects. The evolving nature of this partnership signifies a promising direction for both Bitdeer and Tether, paving the way for impactful developments in the industry. As the story progresses, additional updates will be shared.