Future

Bitcoin

Giant

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Bitdeer Technologies Group has sold $100 million of its shares to Tether.</li> 
 <li>Bitdeer plans to use the raised capital for expansion, ASIC-based mining development, and general corporate purposes.</li> 
</ul>  
<p>Bitdeer Technologies Group, a firm specializing in Bitcoin mining and AI cloud solutions, has sold up to $150 million of its shares to Tether in a private sale. </p> 
<p> The transaction resulted in Bitdeer raising $100 million from the sale of 18,587,360 Class A ordinary shares, as per an official statement. </p> 
<h2 id="additional-purchase-option-for-tether">Additional Purchase Option for Tether</h2> 
<p>The deal also incorporated a warrant allowing Tether to acquire up to an additional 5 million shares at a rate of $10 per share. </p> 
<p> If fully exercised, this could result in an additional $50 million in funding for Bitdeer. </p> 
<p> The execution of this warrant is subject to standard anti-dilution provisions and can be implemented at Tether’s discretion within a year. </p> 
<h2 id="use-of-funds-and-future-collaboration">Use of Funds and Future Collaboration</h2> 
<p>Bitdeer plans to allocate the raised funds towards expanding its data center, developing ASIC-based mining, and for general corporate purposes. </p> 
<p> Linghui Kong, Bitdeer’s Chief Business Officer, stated that Tether’s investment reflects their confidence in Bitdeer’s vision and robust global operations. </p> 
<p> Paolo Ardoino, Tether’s CEO, also expressed anticipation for future collaboration with Bitdeer in key infrastructure areas. </p> 
<p>This development follows Bitdeer’s announcement two months ago about the successful testing of their home-designed <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/">Bitcoin</a> mining chip, the SEAL01. </p> 
<p> The company asserts that this chip will provide improved mining performance with reduced power consumption, thus lowering operational costs and minimizing the environmental impact for miners. </p>

Tether Invests Big, Acquires $100M Stake in Bitcoin Mining Giant Bitdeer

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