Bitcoin Company, which received a $150 million investment from Tether, did what was expected

Bitcoin (BTC) mining company Bitdeer is making a new investment of $140 million.

According to the statement made by Bitdeer, the company will acquire Desiweminer, which designs ASIC devices used for mining.

Will join the Bitdeer team

All Desiweminer shares will be purchased in exchange for a valuation of 20 million Bitdeer shares.

The total value of the agreement signed on June 3 is approximately $140 million.

Bitdeer stated that 50% of the company shares to be issued within the scope of the agreement cannot be transferred within the first 6 months after the agreement. The remaining part will remain locked for 12 months.

Before acquiring Desiweminer, Bitdeer examined the company's "technology, engineering team and supply chain" for 10 months.

The Desiweminer team will join Bitdeer's ASIC design team in Singapore.

“Desiweminer's remarkable achievements in ASIC design and nearly 30 thousand high-performance devices on the market make it one of the largest ASIC design groups in the world,” said Linghui Kong, Bitdeer CBO.

Received investment from Tether

Tether, the world's largest stablecoin company, agreed to buy $100 million worth of Bitdeer shares in a private deal last month.

The company also has an option to buy an additional 5 million shares at $10 a lot. The total value of the investment could reach $150 million.

Bitdeer said that it would use the investment it received from Tether to fund ASIC studies.