Tether Expands Bitdeer Stake to 21%, SEC Filing Shows
Tether, the issuer of the USDT stablecoin, has increased its stake in Bitcoin (BTC) mining company Bitdeer (BTDR), strengthening an investment it first made nearly a year ago.
According to a recent filing with the U.S. Securities and Exchange Commission (SEC), Tether now owns 21% of Bitdeer, funding the acquisition with its available working capital.
The company initially invested in the Singapore-based mining firm in May 2024, purchasing 18.59 million Class A shares for $100 million, along with an option to acquire an additional 5 million shares at $10 each.
With record profits of $13 billion last year, Tether has been actively expanding its investment portfolio. Beyond crypto-related ventures, the company has taken a stake in Italy’s Juventus FC and is reportedly bidding for a controlling interest in Latin American agricultural firm Adecoagro.
As of pre-market trading, Bitdeer’s stock remains steady at $10.56 on Nasdaq.
