Tether Investments has proposed merging Twenty One Capital, Strike and Elektron Energy into a single listed entity combining bitcoin treasury, mining and financial services.
Shares of Twenty One Capital rose about 8% in after-hours trading following the announcement, reflecting investor interest in the proposed consolidation strategy.
“If completed, these transactions would position XXI to become the premier listed Bitcoin company in the world: a public company that combines Bitcoin treasury, mining, financial services, lending, capital markets, and strategic consolidation into one integrated platform,”
The company said.
The proposed deal would bring together Strike’s bitcoin payments and financial services platform with Elektron Energy’s mining operations, which currently account for around 5% of global bitcoin network hashrate.
Tether said Elektron Energy’s head Raphael Zagury could serve as president of the combined group, pairing mining and capital markets expertise with Strike founder Jack Mallers’ product leadership.
Twenty One Capital, which went public via a SPAC merger in December, currently holds more than 43,000 bitcoin and is backed by Tether and Bitfinex as part of a strategy focused on capital-efficient accumulation.
The merger would expand the firm beyond treasury holdings into operating businesses with recurring revenue streams, signalling a broader shift toward vertically integrated bitcoin platforms.
At the time of reporting, Bitcoin price was $75,666.29.