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. UTC

Tether, the issuer of the USDT stablecoin, increased its holdings in bitcoin (BTC) 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.

Sam Reynolds

Sam Reynolds is a senior reporter based in Asia. Sam was part of the CoinDesk team that won the 2023 Gerald Loeb award in the breaking news category for coverage of FTX's collapse. Prior to CoinDesk, he was a reporter with Blockworks and a semiconductor analyst with IDC.