Tether Investments, the investment arm of stablecoin giant Tether,announced on Wednesdaythat the company proposes to merge Twenty-One Capital, Strike, and Elektron Energy into a single entity it calls “the premier publicly traded company.”Bitcoinglobal leader.
The proposed merger will consolidate three independent Bitcoin operations under a single public entity, including Twenty-One Capital.Second-largest among publicly traded companiesFor a company holding over $3.3 billion in Bitcoin, it will contribute its substantial capital operations to the merged platform.
Strike, a Bitcoin financial services company founded by Jack Mallers, CEO of Twenty-One Capital, operates in over 100 countries and enables users to buy, sell, hold, trade, and borrow Bitcoin. Mallers stated this week that Strike has secured a $2.1 billion credit facility to meet loan demand.
Elektron Energy will bring significant mining infrastructure to this merger. The company, led by Raphael Zagury, who is recommended to serve as president of the combined company, has mined over 5,500 bitcoins across its managed mining pools and has kept the consolidated production cost per bitcoin below $60,000.
Tether Investments wrote: "The proposed leadership structure aims to combine Mallers' leadership in products, branding, and consumer Bitcoin with Zagury's expertise in capital markets, operations, and execution."
The market responded positively to the merger news, with Twenty-One (XXI) shares rising significantly in after-hours trading, though the gains have largely reversed. XXI is currently trading at $8.06, up approximately 3% from Wednesday’s closing price.
According to reports, Mallers, CEO of Strike and Twenty-One, said at the Bitcoin 2026 conference on Wednesday: “In short, I think it’s a good idea.”Bitcoin MagazineTwenty-One issued a press release later Wednesday, acknowledging plans to acquire Strike and Elektron Energy.
This merger builds on Twenty-One Capital’s recent successful transition to a public company, which occurred last December through a merger with Cantor Equity Partners’ special purpose acquisition company (SPAC). Tether is one of them.Notable SupportersThe initial business combination lays the foundation for further proposed mergers.