Tether Buys $100M Worth of Bitdeer Shares With Option to Purchase $50M More
Summary
Stablecoin firm Tether plans to buy up to $150 million worth of shares in bitcoin miner Bitdeer. Bitdeer has entered into a subscription agreement for the private placement of 18,587,360 Class A ordinary shares, generating $100 million. The agreement also includes a warrant to purchase an additional 5 million shares at $10 each, potentially providing an extra $50 million. Bitdeer will use the proceeds for data center expansion and ASIC-based mining rig development. Following the announcement, Bitdeer's shares rose over 4% in pre-market trading. Tether, the world's largest stablecoin developer, recently divided into four divisions, one of which focuses on bitcoin mining investments.
