Twenty One Capital's shares have jumped over 8% in after-hours trading on Wednesday, driven by a proposed merger with Strike and Elektron Energy, put forth by majority shareholder Tether Investments. The merger, if successful, would integrate bitcoin treasury, mining, and financial services into one platform. Tether Investment, the investment arm of the stablecoin issuer, has expressed its intention to vote in favor of the merger. The combined entity would be led by Jack Mallers as CEO and Raphael Zagury as President, leveraging their expertise in bitcoin leadership and mining.
With this merger, Twenty One Capital would expand its focus beyond bitcoin accumulation, embracing a more comprehensive approach to bitcoin services. The proposed merger aims to create a premier listed bitcoin company, offering a range of services including lending, capital markets, and strategic consolidation.