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<h2 class="wp-block-heading" id="tether-announces-up-to-150m-investment-in-bitdeer-for-bitcoin-mining">Tether Announces Up to $150M Investment in Bitdeer for Bitcoin Mining</h2> 
<p>On Friday, Tether announced a strategic investment agreement with Bitdeer, committing up to $150 million in a private placement to acquire shares in the crypto mining firm.</p> 
<h2 class="wp-block-heading" id="details-of-the-agreement">Details of the Agreement</h2> 
<p>The subscription agreement involves the purchase of 18,587,360 Class A ordinary shares and includes a warrant to buy up to 5,000,000 additional shares at a price of $10.00 per share, as <a href="https://btc-pulse.com/turkey-drafts-crypto-international-standards/">outlined </a>in the press release. Currently, Bitdeer shares are trading between $6 to $7 per share.</p> 
<figure class="wp-block-image size-full">
 <img fetchpriority="high" decoding="async" width="1035" height="506" src="https://btc-pulse.com/wp-content/uploads/2024/05/image-13.png" alt="image 13" class="wp-image-24990" title="Tether Investing Up to $150M in Crypto Mining Firm Bitdeer 20" srcset="https://btc-pulse.com/wp-content/uploads/2024/05/image-13.png 1035w, https://btc-pulse.com/wp-content/uploads/2024/05/image-13-150x73.png 150w, https://btc-pulse.com/wp-content/uploads/2024/05/image-13-768x375.png 768w, https://btc-pulse.com/wp-content/uploads/2024/05/image-13-750x367.png 750w" sizes="(max-width: 1035px) 100vw, 1035px">
</figure> 
<p>The private placement transaction completed on Thursday generated $100 million in gross proceeds from the share issuance. If the warrant is fully exercised, there is potential to raise an additional $50 million.</p> 
<h2 class="wp-block-heading" id="tether-s-strategic-vision">Tether’s Strategic Vision</h2> 
<p>Paolo Ardoino, CEO of Tether, expressed strong confidence in Bitdeer’s capabilities and future prospects. “We regard Bitdeer as one of the strongest vertically integrated operators in the Bitcoin <a href="https://btc-pulse.com/free-cloud-mining-and-passive-income-with-ast-mining/">mining </a>industry, differentiated by its cutting-edge technologies, and a robust R&amp;D organization,” Ardoino stated. “Bitdeer’s proven track record and world-class management team are perfectly aligned with Tether’s long-term strategic vision. We anticipate close collaboration with Bitdeer across several key infrastructure areas moving forward.”</p> 
<h2 class="wp-block-heading" id="market-response">Market Response</h2> 
<p><a href="https://finance.yahoo.com/quote/BTDR/?guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&amp;guce_referrer_sig=AQAAAFrHiLdRHiHOEzMzkXzV4JwlxjSUowCwYksXulJj9fiKoXv4YKLMb9T0fBxIvIkL8hTXRwgaSFCSOSg_xw0RPd-H15Hnq0hC0L_MeXpH_Moh13uvASxWindGmkYKKc6SbVbZ3UgUY7wpIXo1s6qWnJ821SPjqMz96lxi8qsJHZZf&amp;guccounter=2" target="_blank" rel="noopener">Bitdeer’s stock (BTDR) </a>has seen a positive response, rising over 13% in intraday <a href="https://btc-pulse.com/bitcoin-and-ethereum-etns-london-exchange-trading/">trading </a>following the announcement, reflecting market optimism regarding Tether’s investment.</p> 
<h2 class="wp-block-heading" id="tether-s-interest-in-btc-mining">Tether’s Interest in BTC Mining</h2> 
<p>This investment marks a significant step for Tether, the developer behind the world’s largest stablecoin, USDT. By investing in <a href="https://btc-pulse.com/indian-cop-arrested-stealing-200k-bitcoin-scam/">Bitcoin </a>(BTC) mining, Tether is not only showing its commitment to the broader crypto economy but also securing a vital component of the blockchain ecosystem.</p> 
<h2 class="wp-block-heading" id="aligning-with-broader-strategy">Aligning with Broader Strategy</h2> 
<p>The move aligns with Tether’s broader strategy of diversifying its investment portfolio and reinforcing the stability and reliability of its USDT token. By supporting companies like Bitdeer, which provide essential blockchain technology, Tether is ensuring the ongoing robustness of the crypto infrastructure.</p>

Tether Investing Up to $150M in Crypto Mining Firm Bitdeer

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BTC-Pulse

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