Tether Acquires $100 Million Stake in US-Listed Bitcoin Miner Bitdeer
- Bitcoin miner is owned by the Chinese billionaire Jihan Wu
- Bitdeer was previously in talks with private credit firms
Photographer: Gabby Jones/Bloomberg
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Stablecoin issuer Tether Holdings Ltd. has acquired a $100 million stake in Bitdeer Technologies Group, the US-listed Bitcoin miner owned by Chinese billionaire Jihan Wu, with an option to purchase an additional $50 million in shares within a year.
The two firms entered into a subscription agreement for a private placement of 18.6 million Class A ordinary shares, Bitdeer said in a statement on Friday, which generated $100 million in gross proceeds. There was also a warrant to purchase up to five million in additional shares at $10 per share. The private placement closed on Thursday. Cantor Fitzgerald & Co. acted as the placement agent.