Investment Partnership between Tether and Bitdeer Technologies Group

Tether, a prominent stablecoin issuer, has invested substantially in Bitdeer Technologies Group, a publicly listed company specializing in Bitcoin mining and AI cloud solutions. The announced deal on May 31 involves a $100 million private placement for 18,587,360 Class A ordinary shares of Bitdeer. Additionally, Tether has secured a warrant to purchase up to 5 million additional shares at $10 per share within the next 12 months, potentially raising $50 million. This investment reflects Tether's confidence in Bitdeer's strategic direction and global operations.

Bitdeer plans to use the capital to expand its data center, advance ASIC-based mining, and support general corporate activities. Linghui Kong, the Chief Business Officer of Bitdeer, highlighted that this investment underscores the strength of their operations and opens doors for future collaborations with Tether.

The recent development includes Bitdeer's successful testing of its in-house bitcoin mining chip, the SEAL01, promising improved mining performance and reduced power consumption, aligning with the industry's focus on sustainability. Paolo Ardoino, the CEO of Tether, expressed excitement for collaborative endeavors in critical infrastructure domains.

This investment signifies the growing integration of cryptocurrency finance and mining technology, positioning Bitdeer and Tether at the forefront of the industry's advancement.