Tether Proposes Mergers for Twenty One Capital, Strike, and Elektron Energy
Tether Investments has proposed a two-stage merger for Twenty One Capital (NYSE: XXI), a company focused on Bitcoin treasuries. The plan involves first combining with Strike, a financial services platform founded by Jack Mallers that allows investors to trade and borrow against BTC. After the merger with Strike is completed, Twenty One Capital would then combine with Elektron Energy, a Bitcoin mining firm led by Raphael Zagury.
The merged company would be able to leverage its strong balance sheet, large-scale operating business, and financial services division to accelerate Bitcoin adoption. According to Tether, this combination could position Twenty One Capital as the leading listed Bitcoin company globally.
Zagury is proposed to serve as president of the combined entity following the completion of both mergers. The transactions would allow the merged company to move beyond its current treasury-focused model toward one with operating businesses, recurring revenue, and long-term BTC accumulation capabilities.