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Tether Just Made A Big New Bet On A Bitcoin Mining Company

May 31, 2024
x min read
Tether Just Made A Big New Bet On A Bitcoin Mining Company

Tether has been rapidly making new venture capital bets. And now they’re getting behind a publicly traded Bitcoin mining company.

What’s happening:

  • Tether has announced they have purchased $100M USD of shares in Bitcoin mining company Bitdeer (NASDAQ: BTDR)

By the numbers:

  • Bitdeer raised $100M USD through a private placement financing, which was financed entirely by Tether and includes the option for Tether to purchase another $50M USD of Bitdeer shares through warrants

Why it matters:

Going deeper:

  • Bitdeer plans to use the new infusion of capital to expand their data centre capacity to power both their Bitcoin mining operations as well as their artificial intelligence cloud computing arm

The intrigue:

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