Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/why-did-tether-invest-in-bitdeer" data-wpel-link="internal" rel="noopener noreferrer nofollow">Why Did Tether Invest in Bitdeer?</a><br></p>
<p style="text-align: justify">Jihan Wu’s cryptocurrency mining company, Bitdeer, has announced a significant capital increase facilitated by Tether, the operator of the world’s largest stablecoin project, Tether (USDT). On May 31, Tether disclosed that it signed a subscription agreement to purchase $150 million worth of Bitdeer shares through a private transaction.</p>
<h2 id="details-of-the-investment">Details of the Investment</h2>
<p style="text-align: justify">The private transaction involves 18,587,360 Class A ordinary shares and includes an option to acquire up to 5,000,000 additional shares at $10 each. The share issuance on May 30 generated $100 million in gross proceeds, with the potential for an additional $50 million if the full order is executed. Bitdeer plans to utilize the new funds to expand its data centers, develop ASIC-based mining hardware, and support other operational purposes.</p>
<p style="text-align: justify">Bitdeer’s Chief Operating Officer, Linghui Kong, highlighted the importance of Tether’s investment, stating that Tether’s support would accelerate the company’s growth and help maintain leadership in sustainable and efficient <a href="https://en.bitcoinhaber.net/bitcoins-critical-support-zone-insights-from-crypto-capo" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> mining. Kong expressed excitement about the partnership and its potential milestones.</p>
<h2 id="thoughts-from-tether-s-ceo">Thoughts from Tether’s CEO</h2>
<p style="text-align: justify">Tether CEO Paolo Ardoino praised Bitdeer as a leading operator in the Bitcoin mining sector due to its cutting-edge <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">technologies</a> and robust research and development. Ardoino pointed out that Bitdeer’s track record and management team align well with Tether’s long-term strategic goals, envisioning future collaborations in critical infrastructure areas.</p>
<h2 id="key-takeaways">Key Takeaways</h2>
<p style="text-align: justify">Here are some concrete and valuable inferences from the Tether-Bitdeer collaboration:</p>
<ul>
 <li>This investment allows Bitdeer to expand its infrastructure and technology, potentially increasing its market share in Bitcoin mining.</li>
 <li>Tether’s involvement signifies a strong endorsement of Bitdeer’s operational capabilities and strategic vision.</li>
 <li>The investment may boost confidence among other potential investors and stakeholders in the cryptocurrency mining industry.</li>
</ul>
<p style="text-align: justify">These actionable insights can help stakeholders make informed decisions regarding future investments and collaborations within the sector.</p>
<p style="text-align: justify">Tether’s collaboration with Bitdeer is part of a broader strategy to strengthen its reserves, which include U.S. Treasury funds and commodities such as Bitcoin. By investing in Bitdeer, Tether aims to bolster its <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">financial stability</a> and continue its involvement in the mining industry.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/why-did-tether-invest-in-bitdeer" data-wpel-link="internal" rel="noopener noreferrer nofollow">Why Did Tether Invest in Bitdeer?</a></h5>

Why Did Tether Invest in Bitdeer?

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