Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitdeer-announces-significant-financial-move-with-tether-partnership/" data-wpel-link="internal">Bitdeer Announces Significant Financial Move with Tether Partnership</a><br></p>
<p style="text-align: justify">Blockchain and high-performance <a href="https://newslinker.co/category/computing/" target="_blank" rel="noopener" data-wpel-link="exclude">computing</a> leader Bitdeer Technologies Group announced a significant financial move on May 31, 2024. The company signed a subscription agreement with <strong>Tether</strong> International Limited, securing the sale of 18,587,360 Class A ordinary shares and an additional 5,000,000 shares at $10.00 per share. This transaction, completed on May 30, 2024, generated $100 million in gross proceeds, with the potential to earn an additional $50 million if Tether fully exercises its purchase rights.</p> 
<h2 style="text-align: justify" id="private-placement-financing">Private Placement Financing</h2> 
<p style="text-align: justify">The private placement financing was structured to include anti-dilution provisions to protect against share dilution through dividends, splits, or similar transactions. Accordingly, Tether was granted the authority to purchase additional shares within 12 months following the closing date. These measures were designed to provide significant financial flexibility to <strong>Bitdeer</strong> while preserving the <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investment</a>‘s value.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-358105 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/mining-14.jpg" alt="" width="740" height="415"></p> 
<p style="text-align: justify">Bitdeer plans to allocate the proceeds from this transaction to various strategic initiatives. These include expanding data center infrastructure, advancing the development of ASIC-based mining machines, and strengthening working capital for general corporate purposes. This capital influx is expected to enhance Bitdeer’s operational capabilities and support its growth trajectory in the competitive <a href="https://en.coin-turk.com/bitcoin-recovers-swiftly-amid-strong-selling-pressure/" data-wpel-link="internal">Bitcoin</a> mining sector.</p> 
<h2 style="text-align: justify" id="what-will-the-partnership-with-tether-bring">What Will the Partnership with Tether Bring?</h2> 
<p style="text-align: justify">Bitdeer’s Chief Operating Officer Linghui Kong expressed excitement about the partnership with Tether. He emphasized that Tether’s investment reflects strong confidence in Bitdeer’s vision and operational strength. This collaboration will accelerate Bitdeer’s growth and solidify its leadership in sustainable and efficient Bitcoin mining.</p> 
<p style="text-align: justify">Tether’s CEO <strong>Paolo Ardoino</strong> echoed this sentiment, highlighting Bitdeer’s position as a vertically integrated operator with cutting-edge technology and a robust R&amp;D foundation. He noted that Bitdeer’s proven track record and management team align well with Tether’s long-term strategic vision, foreseeing close collaboration in key infrastructure areas.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitdeer-announces-significant-financial-move-with-tether-partnership/" data-wpel-link="internal">Bitdeer Announces Significant Financial Move with Tether Partnership</a></h5>

Bitdeer Announces Significant Financial Move with Tether Partnership

Table of Contents

COINTURK NEWS

Other articles published on May 31, 2024

Japanese Digital Exchange DMM Bitcoin Suffers $300 Million Crypto Heist

Litecoin ready to dance?

Japanese exchange DMM loses $305M in Bitcoin via private key hack

Hampton Hotel flops on Bitfinex Securities

Political Influence Drives Altcoin Trends

Phantom Wallet Enhancements: Elevating the Bitcoin Experience

Join our free newsletter for daily crypto updates!