Twenty One Capital (XXI) shares rose over 8% in after-hours trading after majority shareholder Tether Investments proposed merging XXI with Jack Mallers' Strike and mining firm Elektron Energy. Tether said it will vote its shares in favor. The deal would combine a bitcoin treasury (XXI entered public markets with 43,514 BTC), mining (Elektron manages ~5% of network hash rate with all-in costs under $60,000 per BTC) and financial services (Strike) into a single public company. Raphael Zagury of Elektron was proposed as President of the combined entity. No terms or timeline were disclosed.

XXI’s stock jumped >8% after Tether (majority holder) proposed merging XXI with Strike and Elektron and said it will vote its shares in favor; the merger would add mining and operating businesses to XXI’s 43,514 BTC treasury and names Elektron’s executive as proposed President; no deal terms or timeline were provided.