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In expanding its investment portfolio, <a href="https://coingape.com/stablecoin-russia-china-settle-key-deals-using-usdt-amid-us-sanctions/">Tether,</a> the world’s largest stablecoin operator, has secured up to $150 million in shares from Jihan Wu’s cryptocurrency mining firm, Bitdeer. The deal includes a direct purchase of $100 million in shares and an option for an additional $50 million, signaling a robust partnership aimed at fostering technological advancements in Bitcoin mining. 
<h2 id="strong-tether-invests-100m-in-bitdeer-shares-strong">Tether Invests $100M in Bitdeer Shares</h2> 
<a href="https://coingape.com/bhutan-taps-bitdeer-as-partner-to-raise-500m-in-funding-for-bitcoin-mining/">Bitdeer</a> announced that Tether’s (USDT) initial purchase involves 18,587,360 Class A ordinary shares. Additionally, Tether holds a warrant to acquire up to 5,000,000 more shares for $10.00 each. After the announcement, Bitdeer’s stock price significantly increased, jumping over 4% to $6.08 in pre-market trading. This rise reflects the market’s positive reception of Tether’s substantial investment and confidence in Bitdeer’s strategic growth plans. 
Moreover, the collaboration has already generated $100 million in gross proceeds from the share issuance. Bitdeer could receive an extra $50 million if the stablecoin issuer fully exercises the warrant. These funds are earmarked for key projects, including expanding data centers and developing specialized ASIC-based mining rigs. This financial infusion from Tether is set to significantly boost Bitdeer’s capabilities in sustainable and efficient Bitcoin mining. 
Bitdeer’s chief business officer, Linghui Kong, expressed enthusiasm about Tether’s investment. 
<blockquote>
 “With Tether’s support, we are poised to accelerate our growth and continue our leadership in sustainable and efficient Bitcoin mining,” Kong stated. 
</blockquote> 
This partnership brings in the necessary capital and endorses Bitdeer’s approach and technology in the competitive mining sector. 
<h2 id="strong-tether-diversifies-with-investments-in-tech-europe-strong">Tether Diversifies with Investments in Tech, Europe</h2> 
Tether’s CEO, <a href="https://coingape.com/tether-oobit-and-ton-unveil-new-crypto-payment-solution/">Paolo Ardoino</a>, also commented on the strategic fit between the two companies. He highlighted Bitdeer’s strong position in the market, which is backed by cutting-edge technology and a robust R&amp;D team. 
<blockquote>
 “Bitdeer’s proven track record and world-class management team perfectly align with Tether’s long-term strategic vision,” Ardoino remarked. 
</blockquote> 
The expectation is that both companies will closely collaborate to enhance infrastructure critical to the Bitcoin mining industry. 
This investment in Bitdeer aligns with USDT’s recent initiatives to diversify its investments across various sectors. Earlier reports revealed Tether’s $200 million investment in B<a href="https://coingape.com/tether-invests-200m-into-elon-musks-neuralink-rival-blackrock-neurotech/">lackrock Neurotech</a>, aimed at advancing brain-computer interface technology. Additionally, the stablecoin issuer has announced plans to expand its European footprint by investing in the payment processing platform <a href="https://coingape.com/stablecoin-issuer-tether-plots-europe-expansion-with-citipay-investment/">CitiPay.io</a>. 
Also Read: <a href="https://coingape.com/bitcoin-accumulations-worth-2-5-bln-ignite-market-frenzy-bull-run-ahead/#:~:text=BTC%20Accumulations%20Ignite%20Market%20Optimism&amp;text=This%20potentially%20hints%20at%20increased,in%20the%20crypto%2Dtrading%20landscape.">Bitcoin Accumulations Worth $2.5 Bln Ignite Market Frenzy, Bull Run Ahead?</a> 
The post <a href="https://coingape.com/just-in-tether-secures-100m-bitdeer-shares-holds-option-for-50m-more/">Just In: Tether Secures $100M Bitdeer Shares, Holds Option for $50M More</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Just In: Tether Secures $100M Bitdeer Shares, Holds Option for $50M More

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