Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitdeer-signs-major-deal-with-tether" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitdeer Signs Major Deal with Tether</a><br></p>
<p style="text-align: justify">Bitdeer Technologies Group, known for its blockchain and high-performance <a href="https://newslinker.co/category/computing/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">computing</a> capabilities, has revealed a substantial financial development. On May 31, 2024, the company disclosed a subscription agreement with Tether International Limited, involving the sale of 18,587,360 Class A ordinary shares, plus an additional 5,000,000 shares at $10.00 each. This transaction, finalized on May 30, 2024, generated $100 million in gross proceeds, with a potential additional $50 million if Tether fully exercises its purchase rights.</p>
<h2 id="how-does-private-placement-financing-work">How Does Private Placement Financing Work?</h2>
<p style="text-align: justify">The private placement financing was crafted with anti-dilution measures to safeguard against share dilution through dividends, splits, or similar actions. Tether now has the authority to purchase additional shares within 12 months post-closing date. These provisions were implemented to ensure Bitdeer retains significant financial flexibility while maintaining the <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investment</a>’s value.</p>
<p style="text-align: justify">Bitdeer intends to utilize the funds from this deal to support various strategic projects. These initiatives include expanding data center infrastructure, advancing ASIC-based mining machine development, and bolstering working capital for general corporate purposes. This capital injection is set to improve Bitdeer’s operational capabilities and support its growth in the competitive <a href="https://en.bitcoinhaber.net/exploring-bitcoins-price-surge-and-the-rise-of-new-investors" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> mining sector.</p>
<h2 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 enthusiasm about the partnership with Tether. Kong highlighted that Tether’s investment signifies strong confidence in Bitdeer’s vision and operational strength. This collaboration is expected to fast-track Bitdeer’s growth and reinforce its leadership in sustainable and efficient Bitcoin mining.</p>
<p style="text-align: justify">Tether’s CEO, Paolo Ardoino, shared similar sentiments, emphasizing Bitdeer’s status as a vertically integrated operator with state-of-the-art technology and a solid R&amp;D foundation. Ardoino noted that Bitdeer’s proven track record and management team are well-aligned with Tether’s long-term strategic goals, anticipating close collaboration in essential infrastructure areas.</p>
<h2 id="key-takeaways">Key Takeaways</h2>
<p style="text-align: justify">– Tether gains the right to purchase additional shares within a year, ensuring flexibility.<br> – Bitdeer aims to expand infrastructure and develop advanced mining technology.<br> – The partnership signals strong mutual confidence and strategic alignment.<br> – The financial move will bolster Bitdeer’s operational capabilities in the Bitcoin mining sector.</p>
<p style="text-align: justify">This significant financial move between Bitdeer and Tether marks a pivotal moment for both companies, potentially reshaping their future trajectories and the Bitcoin mining industry at large.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitdeer-signs-major-deal-with-tether" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitdeer Signs Major Deal with Tether</a></h5>

Bitdeer Signs Major Deal with Tether

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