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<a href="https://ultramining.com/news/en/bitcoin-miners-set-for-a-tough-ride-as-2024-halving-nears-jp-morgan/">Tether</a>, the prominent stablecoin issuer, has made a substantial investment in <a href="https://ultramining.com/news/en/bitdeer-pioneers-crypto-mining-expansion-with-norway-and-bhutan-data-centers/">Bitdeer</a> Technologies Group, a Nasdaq-listed firm specializing in Bitcoin mining and AI cloud solutions. The deal, announced 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 more shares at $10 each within the next 12 months, potentially raising an extra $50 million. This move reflects Tether's confidence in Bitdeer's vision and global operations, according to <a href="https://www.theblock.co/post/297812/tether-purchases-100-million-of-shares-in-bitcoin-miner-bitdeer">Theblock</a>. 
Bitdeer plans to utilize the capital to expand its data center, advance ASIC-based mining, and support general corporate activities. Bitdeer’s Chief Business Officer, Linghui Kong, emphasized that the investment highlights the strength of their operations and future collaboration prospects with Tether. 
This development follows Bitdeer’s recent successful test of its home-designed bitcoin mining chip, the SEAL01, which promises enhanced mining performance and reduced power consumption, aligning with the industry's push for sustainability. Tether’s CEO, <a href="https://ultramining.com/news">Paolo Ardoino</a>, expressed anticipation for collaborative efforts in key infrastructure areas. 
Overall, this investment underscores the growing synergy between cryptocurrency finance and mining technology, positioning Bitdeer and Tether at the forefront of the industry's evolution.

Tether Invests $100 Million in Bitdeer to Boost Bitcoin Mining Capabilities

Ultramining_Eng

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