Tether Increases Holdings in Bitdeer

Tether, the issuer of the USDT stablecoin, has expanded its investment in bitcoin (BTC) miner Bitdeer (BTDR), continuing an investment it commenced nearly a year ago.

The acquisition was financed through working capital, resulting in Tether owning 21% of Bitdeer, as stated in a filing to the Securities and Exchange Commission.

Acquisition Details

Tether first purchased a stake in the Singapore-based company last May, investing $100 million for 18.59 million Class A shares, along with an option to acquire 5 million additional shares at $10 each.

Portfolio Expansion

With a record profit of $13 billion last year, Tether is actively building its investment portfolio, which includes a stake in Italy’s Juventus FC and an attempt to secure a majority stake in Adecoagro, a Latin American agricultural producer.

Market Performance

Bitdeer’s shares remain stable in pre-market trading, priced at $10.56 on Nasdaq.