Tether's Investment in Bitdeer and Bitcoin Mining

Tether has recently struck a subscription deal with Bitdeer to acquire up to $150 million in shares through a private placement. The agreement comprises 18,587,360 Class A ordinary shares and a warrant allowing the purchase of an additional 5,000,000 shares at $10.00 per share, as per an official statement. Bitdeer's stock is currently trading between $6 to $7 per share.

A transaction linked to the private placement on Thursday resulted in $100 million in gross proceeds from share issuance, with the potential to raise an extra $50 million if the warrant is exercised in full.

Bitdeer stands out in the Bitcoin mining sector as a vertically integrated operator with advanced technologies and a strong R&D division. Paolo Ardoino, the CEO of Tether, praised Bitdeer's operational strength and highlighted the compatibility of Bitdeer's track record and management with Tether's long-term strategy in a recent communication. Expectations are set for collaborative efforts between Tether and Bitdeer in key infrastructure domains.

The share price of Bitdeer (BTDR) has surged by more than 13% in intraday trading following Tether's investment, demonstrating a positive market response.

Tether’s Involvement in BTC Mining

Tether, renowned for developing the leading stablecoin USDT, has ventured into Bitcoin mining with the investment in Bitdeer. This move reflects Tether's broader interest in fostering the cryptocurrency landscape and backing Bitcoin mining operations to enhance the security and reliability of the crypto ecosystem.