Overview of the Announcement
Shares of Twenty One Capital saw a noticeable rise after Tether introduced a new merger plan. The proposal involves combining the company with Strike and Elektron Energy. This move could reshape the future of the bitcoin-focused firm.
Tether’s Multi-Step Merger Plan
Tether has outlined a two-stage merger strategy. First, Twenty One Capital will merge with Strike, a well-known bitcoin financial services platform. After that, the combined entity will merge with Elektron Energy, a bitcoin mining company.
Tether Investments, the majority shareholder, has confirmed its support. The firm plans to vote in favor of the proposal.
Stock Performance After the News
Following the announcement, Twenty One Capital’s shares increased by 6.6% in after-hours trading. This shows positive market sentiment toward the merger plan. However, the stock is still down 15.8% so far this year.
Background of the Companies
Twenty One Capital is a bitcoin treasury-focused company. It became a public company in December 2025 through a SPAC merger in New York.
Strike, founded by Jack Mallers, provides bitcoin trading and lending services. It allows users to trade and borrow against their bitcoin holdings.
Elektron Energy, led by Raphael Zagury, operates as a bitcoin mining firm. The company manages around 50 EH/s of hashrate. This represents nearly 5% of the total Bitcoin network.
