HomeTechTether's Investment in Bitdeer Increases to Record High

Tether’s Investment in Bitdeer Increases to Record High

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Tether has increased its stake in bitcoin miner Bitdeer to a record high of 21% after financing the acquisition with its working capital. The move comes as part of Tether’s efforts to diversify its portfolio.

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Tether, the issuer of the USDT stablecoin, has 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 is diversifying its portfolio after reporting a banking record profit. This move comes as part of its efforts to expand its holdings, which include acquiring stakes in Juventus FC and bidding for a majority stake in Adecoagro.

tether,usdt,investment,sec,stablecoin,bitdeer

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’. The company now owns 21% of Bitdeer, according to a Securities and Exchange Commission filing.

Bitdeer‘s stock is unchanged on Nasdaq pre-market trading, changing hands at $10.56.

DATACARD
What is BitDeer?

BitDeer is a cloud-based mining platform that allows users to mine cryptocurrencies without the need for expensive hardware.

Founded in 2018, BitDeer offers a range of mining plans and provides users with access to high-performance computing resources.

The platform supports popular cryptocurrencies such as Bitcoin, Ethereum, and Litecoin.

Users can choose from various mining plans, including fixed-term contracts and flexible pricing options.

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