Tether Raises Bitdeer Stake to 21%: SEC Filing
The USDT issuer first bought a stake in the bitcoin mining company in May 2024.
- Tether, the issuer of the USDT stablecoin, increased its stake in bitcoin miner Bitdeer to 21%.
- The acquisition was financed with Tether's working capital, following an initial investment of $100 million in May 2024, the company said in an SEC filing.
- Tether is diversifying its portfolio after banking record profit, including adding stakes in Juventus FC and a bid for a majority stake in Adecoagro.
Tether, the issuer of the USDT stablecoin, increased its holdings in bitcoin miner Bitdeer (BTDR), building on a investment it started almost a year ago.
The company financed the acquisition with working capital and now owns 21% of the company, according to a Securities and Exchange Commission filing.
Tether first acquired a position in the Singapore-based company last May with a $100 million investment for 18.59 million Class A shares and an option to buy 5 million more at $10 each.
Tether is building a portfolio of holdings with its record profits, which came in at $13 billion last year, acquiring a stake in Italty's Juventus FC and bidding for a majority stake in Latin American agricultural commodities producer Adecoagro.
Bitdeer's stock is unchanged on Nasdaq pre-market trading, changing hands at $10.56.
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Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Why it matters:
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
