TechFlow News, April 30: According to an official announcement, Tether Investments has proposed two merger transactions—between Twenty-One Capital (XXI), Bitcoin financial services firm Strike, and Bitcoin mining company Elektron Energy—to expand XXI’s business scale and long-term growth capabilities. Tether Investments stated it will vote in favor of these transactions. Upon completion of the mergers, XXI will integrate Bitcoin asset management, mining, financial services, lending, and capital markets operations, becoming a globally leading listed Bitcoin integrated platform.
Strike, founded by Jack Mallers, operates in over 100 countries and provides Bitcoin buying, holding, trading, and lending services, backed by global distribution and compliant infrastructure. Elektron Energy, led by Raphael Zagury, manages approximately 50 EH/s of hash rate—roughly 5% of Bitcoin’s total network hash rate—and has mined over 5,500 Bitcoins, with a total production cost per Bitcoin under $60,000.
Regarding leadership structure, Tether Investments plans to nominate Raphael Zagury as President of the merged entity, jointly guiding product strategy, branding, and operational direction alongside Jack Mallers.
Tether Investments noted that transaction terms, timelines, and governance details will be disclosed progressively during subsequent discussions and implementation phases.
