Tether Invests $150M in Bitdeer
2 min read
Tether Invests $150M in Bitdeer
Jihan Wu’s company, Bitdeer, which specializes in cryptocurrency mining, is currently seeking additional funding from Tether, the entity behind the widely used stablecoin, Tether (USDT). In a recent announcement dated May 31, it was revealed that Tether has entered into an agreement to acquire up to $150 million worth of shares in Bitdeer through a private placement.
This private placement includes the sale of 18,587,360 Class A ordinary shares, along with a warrant allowing the purchase of up to 5,000,000 more shares at a price of $10.00 per share. According to the announcement, the private placement has already attracted $100 million in gross proceeds from the share issuance on May 30, with the potential to secure an additional $50 million if the warrant is fully utilized.
With the infusion of new capital, Bitdeer aims to further expand its data center operations and advance the development of its application-specific integrated circuit (ASIC)-based mining rigs among other strategic initiatives. This funding is expected to bolster the company’s ability to sustain its growth and enhance its efficiency in Bitcoin mining activities.
Bitdeer’s chief business officer, Linghui Kong, expressed excitement over Tether becoming a key investor. Kong emphasized that Tether’s investment positions Bitdeer for accelerated growth and reinforces its leadership in efficient and sustainable Bitcoin mining. He described the partnership as a monumental step forward for Bitdeer, anticipating significant achievements and mutual benefits from this collaboration.
Tether’s CEO, Paolo Ardoino, also commented on the partnership, highlighting Bitdeer as one of the leading vertically integrated operators in the Bitcoin mining sector. Ardoino praised Bitdeer’s advanced technologies and strong research and development efforts, which align well with Tether’s long-term strategic goals. He mentioned that Tether looks forward to working closely with Bitdeer in several key infrastructure areas going forward.
The strategic investment by Tether is seen as a vote of confidence in Bitdeer’s operational capabilities and future potential. Given the volatile nature of the cryptocurrency market, such backing can provide stability and ensure sustained growth for Bitdeer.
This move could pave the way for more collaborations and investments within the cryptocurrency mining industry, fostering innovation and efficiency. Both Bitdeer and Tether stand to benefit significantly from this partnership, leveraging each other’s strengths in the fast-evolving world of digital currencies.
The collaboration marks a pivotal moment for Bitdeer as it continues to build on its achievements and aims for new milestones in the cryptocurrency mining domain.
Is anyone else worried about Tether spreading themselves too thin? This partnership feels like a risky overextension.
I’d rather see transparency in their operations first. Show us the numbers before asking for more money, Bitdeer!
Big move for Bitdeer and Tether! This partnership will pave the way for new milestones in crypto mining.
This sounds like more hype than substance. Bitdeer has a lot to prove before deserving such an enormous investment.
Major props to Bitdeer and Tether! This partnership promises lots of exciting developments.
This partnership is a win-win for both Bitdeer and Tether! Looking forward to their combined success.
Instead of seeking more funding, Bitdeer should focus on proving their current operations are profitable. This just reeks of desperation.
Tether’s investment feels like a gamble. With so much uncertainty in the crypto mining world, it’s hard to be optimistic.
Wow, what a power move! Bitdeer is set to expand dramatically with Tether’s backing. 🔥🚀
This sounds like another pump-and-dump scheme to me. Why would Tether invest such a huge amount in a market known for instability? 🚀👉💥
Bitdeer needs to address more pressing concerns like environmental impact before expanding. Money alone won’t fix those issues.
Bitdeer’s expansion plans are more exciting than ever with Tether’s strategic investment. 📈🌐
Why can’t these companies ever focus on sustainable energy solutions for mining? Just another example of corporate greed.
Honestly, I feel like investing in cryptocurrency mining right now is super risky. Bitdeer may end up burning through that $150 million faster than they think.
Bitdeer’s future looks incredibly bright with Tether’s backing. Cheering for their upcoming successes! 🌟👏
Bitdeer is leading the way in sustainable Bitcoin mining, and Tether’s support will only amplify their success! 🌱🏆
The perfect synergy between Bitdeer and Tether! Excited for the future of crypto mining. 🌐💼
Who’s to say this investment won’t tank like so many others in the crypto space? Not convinced at all.
Hats off to Bitdeer and Tether for forging this strategic alliance! Future of crypto mining looks very promising.
This collaboration is a HUGE step forward for Bitdeer! Can’t wait to see the advancements they make.
Kudos to Bitdeer and Tether on this monumental partnership! The future of Bitcoin mining looks brighter than ever.
This is the kind of news we love to see! Bitdeer’s growth trajectory is on a new level with Tether’s support.
Fantastic news for Bitdeer and Tether! Their collaboration is bound to advance the entire crypto mining industry.
This seems like just another money grab in the volatile crypto world. Hard pass.
Such an exciting development! Bitdeer and Tether are a match made in crypto heaven.
This partnership is solid proof of Bitdeer’s leading position in the crypto mining world! Bravo!
Incredible milestone for Bitdeer! Tether’s investment speaks volumes about their potential. 🌟💼
Bitdeer & Tethers partnership = Game changer! Cant wait to see what they accomplish together.
I’m tired of seeing investments in ventures that only exacerbate the crypto market’s volatility. No thanks!
Tethers investment in Bitdeer is a game-changer. Excited for the innovation it will bring!
Bitdeer’s strategic partnership with Tether is a masterstroke! Ready to witness some big achievements.
Amazing to see big players like Tether backing Bitdeer. Major milestones ahead! 🏆🛠️
Bitdeers leadership in efficient Bitcoin mining gets a huge boost with Tethers investment.
Huge congratulations to Bitdeer and Tether for this strategic partnership. Watch out for big things!
Another leap forward in the crypto mining sector! Excited to see Bitdeer soar with Tether’s support. 🌍🚀
Bitdeers growth just got a massive boost! Kudos to Tether for recognizing their potential.
Impressive news! Bitdeer is set to achieve new heights with Tether’s investment. 🔥👏
I’m skeptical about Bitdeer’s sustainability claims. Mining crypto is notorious for being energy-intensive. Not very eco-friendly!
Exciting times ahead for Bitdeer and Tether! Their partnership will surely drive major advancements.
Great news for the crypto community! Bitdeer and Tether’s collaboration is bound to bring innovation and growth. 💥🔍
An exciting evolution in crypto! Bitdeer and Tether are set to make waves together.