Twenty One Capital (XXI) Stock Rallies on Tether’s Proposed Three-Company Merger Plan

Key Takeaways Tether has put forward a proposal to combine Twenty One Capital (XXI), Strike, and Elektron Energy Shares of XXI rose more than 6% during after-hours trading on the news The merger would create a comprehensive Bitcoin platform encompassing treasury holdings, mining operations, and financial services Jack Mallers is expected to take an executive position, while Elektron’s Raphael Zagury has been proposed for the president role Financial details and completion timeline remain undisclosed Shares of Twenty One Capital (XXI) surged over 6% during after-hours trading Wednesday following an announcement from majority stakeholder Tether Investments regarding a proposed three-company merger involving Bitcoin payment processor Strike and mining operation Elektron Energy. Twenty One Capital Inc, XXI The equity had ended the standard trading day down 1.7% at $7.83 but rallied to an after-hours peak of $9.28 before stabilizing around $8.35. Tether announced its intention to cast its XXI ownership votes in support of both proposed transactions. The initial deal would unite XXI with Strike, while the subsequent agreement would incorporate Elektron Energy, establishing a single publicly traded Bitcoin-focused enterprise. Tether Investments Proposes Merger Plans at Twenty-One Capital to Accelerate its Strategic Direction Read more: https://t.co/aed2IjaWwj — Tether (@tether) April 29, 2026 XXI has faced headwinds throughout the current year. Shares have declined more than 10.5% since January, mirroring the broader downturn in Bitcoin valuations. The firm presently maintains a position of 43,514 BTC, positioning it as the second-largest corporate Bitcoin holder. Only Strategy, Inc., with its 818,334 BTC holdings, maintains a larger position. Contributions from Each Entity Strike would bring what Tether characterized as a profitable financial services infrastructure, complemented by worldwide distribution channels and regulatory compliance frameworks. Elektron Energy w...