Share this article
Tether Raises Bitdeer Stake to 21%: SEC Filing
The USDT issuer first bought a stake in the bitcoin mining company in May 2024.
Mar 18, 2025, 9:06 a.m. 1 min read
What to know:
- 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.
More For You
The S&P 500 posted its longest weekly winning streak since 2023 and Brent oil stabilized near $92 on US-Iran ceasefire hopes. The biggest cryptocurrencies still drifted lower, with Hyperliquid's HYPE the only major name to rally.
What to know:
- U.S. stocks and oil rallied, with the S&P 500 logging a ninth straight weekly gain and Brent crude hovering near $92 a barrel on hopes for a U.S.-Iran ceasefire extension.
- Major cryptocurrencies lagged the macro rally, with bitcoin, ether and other large-cap tokens falling around 2% to 6% amid cooling...
Top Stories
