Stock market data, financial news sources

BitDeer Secures $150 Million Financing from Tether, Releases New Bitcoin Mining Machine

May 31, 2024, 12:41 PM

BitDeer, led by Jihan Wu, has announced that it has received up to $150 million in private placement financing from Tether. The transaction generated $100 million in gross proceeds from the share issuance, with an option for Tether to acquire an additional $50 million worth of shares. Tether announced a subscription agreement with BitDeer to buy up to $150 million of its shares in a private placement. BitDeer has also released its latest Bitcoin mining machine.