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Tether, the powerhouse behind the top stablecoin USDT, has announced a significant investment in Bitdeer, a leading bitcoin miner. The company plans to acquire up to $150 million in Bitdeer shares through a private placement deal involving 18,587,360 Class A ordinary shares, totaling $100 million in proceeds. An additional agreement grants Tether the option to purchase 5 million more shares at $10 each, potentially adding another $50 million to the investment.
This financial infusion from Tether is poised to accelerate Bitdeer’s expansion and innovation, particularly in the development of ASIC-based mining rigs and the expansion of data centers. Following the news, Bitdeer’s share price surged over 4% to $6.08 in pre-market trading, showcasing immediate market confidence.
CryptoQuant CEO highlighted the move as a testament to the growing synergy between stablecoin operations and the broader cryptocurrency mining industry. This investment not only strengthens Tether’s position within the crypto sector but also underscores the potential for stablecoins to foster substantial growth in the cryptocurrency ecosystem.
