Tether Buys $100M Worth of Bitdeer Shares, Can Purchase $50M More

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Tether has agreed to purchase up to $150 million worth of Bitdeer shares signaling a powerful partnership to promote technological advancements in BTC. Bitdeer generated $100 million in proceeds from the private placement, which could grow to $150 Million if fully exercised. Bitdeer intends to use the proceeds to fund its data center expansion and ASIC-based mining rig development. Following the announcement, Bitdeer’s stock price significantly increased, jumping over 4% to $6.08 in pre-market trading. Notably, Tether recently split into 4 divisions where one of the units is specifically focused on investments in Bitcoin mining.