Bitdeer, a Nasdaq-listed Bitcoin mining solutions provider, has struck a subscription agreement with Tether, enabling the stablecoin issuer to acquire approximately $100 million worth of Bitdeer shares, with an option for an additional $50 million.

The deal, finalized on Thursday, includes "the private placement of 18,587,360 Class A ordinary shares and a warrant to purchase up to 5,000,000 additional shares at $10.00 per share," according to a press release. Bitdeer's Chief Business Officer, Linghui Kong, mentioned that this potential $150 million investment from Tether would accelerate the company's growth and global expansion, positioning it as a leader in sustainable Bitcoin mining.

Bitdeer operates six mining data centers globally, managing a total hashrate of 22 EH/s. Tether's former technology chief and current CEO praised Bitdeer as a top vertically integrated Bitcoin mining operator, aligned with Tether's long-term vision.

The funds from Tether will be used to expand Bitdeer's data centers and develop application-specific integrated circuit (ASIC) mining chips. Following the announcement, Bitdeer's shares rose over 10% in pre-market trading to $6.44, reflecting the digital asset sector's influence on traditional finance.

Cantor Fitzgerald & Co. has been appointed as the placement agent, with its CEO recently affirming Tether's financial robustness on Bloomberg TV.

In addition to this investment, Tether has committed $500 million over six months to Bitcoin mining, developing facilities and energy stations in Uruguay, Paraguay, and El Salvador, emphasizing renewable energy sources like solar, wind, and geothermal.