Tether Investments unveiled a major proposal to accelerate the evolution of Twenty-One Capital as of 30 April 2026. The plan centers on a series of mergers designed to strengthen the company’s structure, capital deployment, and long-term growth strategy.
Tether Investments confirmed it will vote in favor of merging XXI with Strike, followed by a second merger involving Elektron Energy. These moves reflect a broader push to transform XXI from a simple Bitcoin treasury vehicle into a diversified operating platform.
The proposal signals a shift toward building a vertically integrated Bitcoin company with exposure across multiple revenue streams.
Also Read: Tether Launches Open-Source MDK to Streamline Bitcoin Mining
Tether-Backed Strike and Elektron Add Strength
Strike, founded by Jack Mallers, is a globally recognized Bitcoin financial services platform operating in over 100 countries. It offers services such as buying, selling, payments, and Bitcoin-backed lending. The company is already profitable and brings a strong regulatory infrastructure and global reach.
Elektron, led by Raphael Zagury, contributes large-scale mining capabilities. The firm manages around 50 EH/s, accounting for roughly 5% of the Bitcoin network. It has mined more than 5,500 BTC and maintains production costs below $60,000 per Bitcoin, positioning it among the most efficient mining operators.
Together, these firms would combine financial services, mining infrastructure, and operational scale into a single entity.
Vision for a Fully Integrated Bitcoin Company
If the merger goes through, then Twenty-One Capital will emerge as an exemplary publicly traded company focusing on Bitcoin. The merged company will blend treasuries, mining, finance, loans, and capital markets under one roof.
Tether Investments has developed a strategy that combines innovation and execution. While Mallers will still be focusing on products and adoption, Zagury will assume the mantle of President, where he will be focusing more on operational matters and capital management.
The idea behind the strategy is to take XXI from being an entity that provides exposure in Bitcoin to becoming a company that earns income from recurrent earnings.
Also Read: Tether Shifts From Rigs to Modular Systems in Mining Push
