Tether, the issuing company of the largest stablecoin USDT, invested $150 million in Bitdeer, a Nasdaq-listed Bitcoin (BTC) mining and technology company.
Bitdeer announced Tether's $150 million investment in its post on its official X account.
Bitdeer's Business Manager Linghui Kong said the following about the Tether investment:
“We are excited to welcome Tether as a significant investor in Bitdeer.
This significant investment demonstrates confidence in our vision and the strength of our comprehensive global operations.
With Tether's support, we are ready to accelerate our growth and maintain our leadership in sustainable and efficient bitcoin mining.
“This partnership marks a significant milestone for Bitdeer and we look forward to achieving great things together.”
Tether CEO Paolo Ardoino said: “Tether is pleased to be working with Bitdeer. We see Bitdeer as one of the strongest vertically integrated operators in the Bitcoin mining industry, differentiated by the most advanced technologies and a robust R&D organization. Bitdeer's proven “Our history and world-class management team are perfectly aligned with Tether's long-term strategic vision. We expect to collaborate closely with Bitdeer on many key infrastructure areas moving forward.” said.
We are thrilled to announce that Tether International Limited has made a private placement financing of up to US$150 million in Bitdeer. This strategic investment will power our data center expansion and advance the development of our ASIC-based mining rigs.
Read the full press… pic.twitter.com/6jcC9In2Zb
— Bitdeer (@BitdeerOfficial) May 31, 2024
*This is not investment advice.
