Stablecoin issuer Tether has agreed to acquire up to $150 million in shares from leading Bitcoin mining firm Bitdeer through a private placement, as announced on May 31.

In the initial transaction, Tether purchased 18,587,360 Class A ordinary shares from Bitdeer for $100 million. Additionally, there is an option to buy an additional 5,000,000 shares at $10.00 per share, potentially adding $50 million to the investment. Cantor Fitzgerald & Co. facilitated the private placement.

Following this announcement, Bitdeer's shares surged over 8% in pre-market trading to $6.35, according to data from Google Finance.

**Bitdeer's Expansion Plans**

Bitdeer, based in Singapore, plans to utilize the proceeds to expand its data centers, develop ASIC-based mining rigs, support working capital, and cover other corporate expenses.

Linghui Kong, Bitdeer's chief business officer, stated:

“With Tether’s support, we are poised to accelerate our growth and maintain our leadership in sustainable and efficient bitcoin mining. This partnership represents a significant milestone for Bitdeer, and we are eager to achieve further successes together.”

**Tether's Strategic Vision**

Paolo Ardoino, CEO of Tether, emphasized:

“Bitdeer’s strong track record and exceptional management team align perfectly with Tether’s long-term strategic goals. We anticipate a close collaboration with Bitdeer across several critical infrastructure areas in the future.”

**Tether's Business Expansion**

This investment underscores Tether's ongoing expansion into the cryptocurrency mining sector, following previous significant investments in Swan’s Managed Bitcoin Mining service. In April, Tether announced its restructuring into four divisions—Tether Data, Tether Finance, Tether Power, and Tether Edu—to diversify beyond its core stablecoin operations and enhance its influence in emerging sectors.

Simultaneously, Tether reported record financial performance in the first quarter, with USDT market capitalization reaching a new high of $111 billion. This figure represented 77% of trading volumes among the top 10 stablecoins on centralized exchanges, according to CCData.