Bitdeer (NASDAQ: BTDR) Receives $100M Investment From Stablecoin Leader Tether International Limited
–News Direct–
By Gerelyn Terzo, Benzinga
Bitdeer Technologies Group (NASDAQ: BTDR), a Bitcoin mining and AI cloud solutions company led by industry pioneer Jihan Wu, has received a potentially game-changing capital injection from one of the blockchain industrys earliest stablecoin projects.
Tether International Limited, a stablecoin backed by fiat currencies including the dollar, has purchased a $100 million position in Bitdeer. (Stablecoins are digital assets that are pegged or tied to more stable instruments, like the U.S. dollar, making them less volatile and more attractive for use cases like payments.)
The financing, which took the form of a private placement that closed in May, comprises 18,587,360 of Bitdeers Class A ordinary shares and a warrant to purchase up to 5,000,000 more ...