Tether Pushes XXI Merger Plan With Strike and Elektron

• Tether plans mergers with Strike and Elektron to unify mining, financial services, and capital markets into one integrated entity.

• Elektron adds 50 EH/s mining capacity while Strike contributes global Bitcoin services across 100+ countries and markets.

• Proposal shifts Twenty-One Capital into active operations, combining mining, lending, and financial services under one structure.

Tether Investments has proposed a series of transactions to reshape Twenty-One Capital through planned mergers with Strike and Elektron Energy. The company disclosed the plan as part of its next strategic phase. The proposal aims to combine mining, financial services, and treasury operations into a single integrated structure.

Proposed Mergers Combine Mining and Financial Services

Tether Investments said it intends to vote in favor of merging Twenty-One Capital with Strike. It also supports combining the merged entity with Elektron Energy. If completed, the structure would integrate financial services, mining infrastructure, and capital markets operations.

Strike would contribute its global financial platform, regulatory framework, and distribution network. Meanwhile, Elektron would add large-scale mining infrastructure and operational capacity. The combined entity would operate across multiple segments within the Bitcoin ecosystem.

Operational Scale and Infrastructure Drive Integration

According to disclosed details, Elektron manages about 50 EH/s of mining capacity. This represents roughly 5% of the Bitcoin network. The platform has mined over 5,500 bitcoins and maintains production costs below $60,000 per coin.

However, Strike operates across more than 100 countries, providing services to buy, sell, and transact Bitcoin. Founded by Jack Mallers, the platform brings an established financial services layer. Together, these components form the operational base of the proposed structure.

Leadership and Structure Under Review

Tether also plans to recommend Raphael Zagury as President of the combined entity. The proposed leadership structure pairs Zagury’s operational experience with Mallers’ role in product and distribution.

The transaction would shift Twenty-One Capital beyond treasury exposure into active operating businesses. It would include mining, lending, and financial services under one framework.