•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Tether Investments announced a strategic plan on Wednesday to transform Twenty-One Capital (XXI) into an integrated bitcoin platform through proposed mergers with Jack Mallers’ Strike and private bitcoin miner Elektron Energy.
Tether Investments said it intends to vote its shares in favor of combining XXI with Strike. The proposal further seeks to merge the combined entity with Elektron Energy, uniting a financial services brand with mining infrastructure if the deal closes.
Tether Investments’ key proposal includes a merger between XXI and Strike on April 29, 2026.
Strike operates as a bitcoin services provider, enabling customers to buy, sell, and borrow against BTC in more than 100 countries. Tether Investments said the merger would give XXI access to recurring revenue and a broader global distribution network.
Elektron Energy, led by Raphael Zagury, is described as managing approximately 50 exahash per second (EH/s), which Tether Investments said represents roughly 5% of the total Bitcoin network hashpower.
Tether Investments also cited Elektron’s production track record, stating the firm has produced more than 5,500 bitcoins. It added that Elektron’s all-in production cost is currently below $60,000 per coin.
Tether Investments recommended that Raphael Zagury serve as president of the newly formed XXI entity. The leadership approach is intended to pair Mallers’ consumer brand expertise with Zagury’s background in capital markets and large-scale operations, with an emphasis on disciplined capital allocation as the company expands.
Tether Investments said the proposed transactions would shift XXI from a treasury exposure vehicle into a comprehensive bitcoin platform. The envisioned structure would include mining, lending, capital markets, and financial services.
By incorporating Elektron’s 50 EH/s capacity, the combined entity is expected to benefit from an efficient mining cost structure, which Tether Investments said could support long-term bitcoin accumulation through volatile market cycles.
Tether Investments noted that specific transaction terms and governance details remain under discussion. It also said further updates on timelines and asset scope are expected as the parties move toward final agreements.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
