Twenty One Capital's shares have risen by over 8% in after-hours trading after Tether Investments, its majority shareholder, announced a proposed merger with Strike and Elektron Energy. The merger aims to integrate bitcoin treasury, mining, and financial services into a single platform. As the CEO of Twenty One Capital, Jack Mallers, along with Raphael Zagury of Elektron Energy, would lead the combined entity. The move is expected to establish Twenty One Capital as a premier listed bitcoin company, offering a range of services including lending, capital markets, and strategic consolidation.
With no terms or timelines disclosed, the merger is set to expand the company's focus beyond bitcoin accumulation, providing recurring revenue opportunities and long-term growth potential.