Odaily Planet Daily News Tether has significantly increased its stake in Bitcoin mining company Bitdeer Technologies Group. This strategic move highlights Tether's growing involvement in the Bitcoin mining ecosystem, expanding its portfolio beyond stablecoin operations. According to documents recently filed with the U.S. Securities and Exchange Commission (SEC), Tether and its subsidiaries currently hold a total of 31,891,689 Class A common shares of Bitdeer, accounting for approximately 21.4% of the company's total outstanding shares. Previously, Tether acquired $100 million in Bitdeer shares through a private placement in May 2024, with the option to purchase an additional $50 million worth of shares within 12 months.
It is reported that Tether's relationship with Bitdeer is not just a passive investment, but a strategic cooperation aimed at strengthening Bitcoin infrastructure. By acquiring a large stake in a major mining company, Tether positions itself as a direct contributor to the stability and sustainability of the Bitcoin network. (Financefeeds)