Tether Investments proposes merging Strike and Twenty-One Capital — then folding in a Bitcoin miner!

Tether Investments has put forward a proposal to merge payments company Strike into Twenty-One Capital, with a second step that would combine the resulting entity with Bitcoin miner Elektron Energy. The multi-stage consolidation is framed as a way to accelerate the group's strategic direction across payments, capital markets, and mining infrastructure.

If completed, the structure would create a vertically integrated Bitcoin-native conglomerate — spanning transaction rails, treasury accumulation, and hash-rate production under one roof. That kind of end-to-end alignment is rare and signals Tether is moving well beyond stablecoin issuance in its ambitions.

Twenty-One Capital, already positioned as a BTC-accumulation vehicle, would serve as the anchor entity. Adding Strike's payment network and Elektron's mining capacity could give the combined group leverage across nearly every layer of…