Tether's investment division has proposed a merger of three companies to create a leading public entity in the Bitcoin industry.

Tether Investments Proposes Merger Plans at Twenty-One Capital to Accelerate its Strategic Direction

Read more: https://t.co/aed2IjaWwj

— Tether (@tether) April 29, 2026

The merger involves Twenty-One Capital (XXI), financial services provider Strike, and mining platform Elektron Energy.

The combined entity will hold treasury reserves in Bitcoin, engage in cryptocurrency mining, and offer lending services.

Strike will provide the financial platform, global distribution, and regulatory infrastructure, while Elektron will contribute its Bitcoin mining system and operational expertise. The platform manages a hash rate of approximately 50 EH/s, accounting for about 5% of the network's total hash rate. The company has mined over 5,500 BTC.

Tether Investments has recommended appointing Elektron CEO Rafael Zaguri as president of the merged company. He will oversee capital markets and operations, while Strike founder Jack Mallers will focus on product and brand development.

The merger aims to transform XXI from a mere Bitcoin holder into a platform with operational business, regular revenue streams, and opportunities for cryptocurrency accumulation. Details of the deal will be revealed as negotiations progress.

As of this writing, XXI ranks second among public companies in Bitcoin reserves, holding 43,514 BTC valued at approximately $3.3 billion.

Source: BitcoinTreasuries.

It trails only Strategy (818,334 BTC) but surpasses Japan's Metaplanet (40,177 BTC) and miner MARA Holdings (38,689 BTC).

Institutional interest in such assets is further confirmed by actions from government entities. The Canadian sovereign fund AIMCo, with assets of $142 billion, disclosed its purchase of 1.38 million shares of Strategy worth $219 million. This marks the first direct allocation to Bitcoin-related instruments for one of Canada's largest investment managers.

JUST IN: $142 Billion Canadian government-owned Alberta Investment Management Corp just disclosed they bought 1.38 million shares worth $219 million of #Bitcoin treasury company Strategy $MSTR for the first time.

One of Canada's largest institutional manager just made first BTC… pic.twitter.com/oAwDleKbW5

— BitcoinTreasuries.NET (@BTCtreasuries) April 30, 2026

In April, Tether, in partnership with Canaan and ACME Swisstech, introduced a modular infrastructure for mining.