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About Elektron
Elektron is a Bitcoin mining company focused on energy transformation rather than mere consumption. Its core business is operating mining facilities as flexible loads, absorbing surplus or curtailed power from renewable sources and stepping aside when grids are stressed. The company's competitive edge lies in its ability to act as a buyer of last resort for otherwise wasted energy, converting it into Bitcoin through verifiable proof-of-work. It addresses the market pain point of stranded and curtailed energy that lacks buyers, while also solving grid flexibility challenges that traditional industrial loads cannot handle. Over the past six months (March to September 2026), Elektron has scaled to 46 EH/s across multiple regions, emphasizing disciplined cost management and long-term capital alignment. Notably, a proposed three-way merger involving Tether's Twenty One Capital and Strike was cancelled due to disagreements over terms and governance, a significant development for the company. Elektron maintains a lean operational structure and focuses on probabilistic decision-making rather than forecasts, positioning itself to perform across Bitcoin's halving cycles.
Elektron has recently strengthened its leadership team. In April 2026, Vijay Selvam joined as Chief Legal Officer. With nearly two decades of experience across law, finance, and digital assets, he previously served as General Counsel, International at Gemini, where he led U.S. and global regulatory and licensing strategy. Earlier, he spent over a decade at Goldman Sachs advising on complex financial and regulatory matters. He is also the author of "Principles of Bitcoin." The appointment comes as the Bitcoin mining industry shifts toward more institutionalized, capital-intensive operations. Elektron is accelerating its global infrastructure expansion and bolstering legal and compliance leadership to navigate cross-border regulatory complexity. He will work alongside existing General Counsel Bill Belitsky, focusing on governance and regulatory strategy.