Stablecoin giant Tether has increased its holdings in Bitcoin miner Bitdeer (BTDR), per a filing with the U.S. Securities and Exchange Commission.
The filing reveals that Tether and its subsidiaries—Tether International, S.A. de C.V. and Tether Investments, S.A. de C.V.—now collectively own 31,891,689 Class A ordinary shares in Bitdeer, representing 21.4% of the company’s outstanding shares.
Tether is best known for its stablecoin, USDT. However, the company has pursued investments in Bitcoin mining, energy and AI infrastructure over the past few years.
Meanwhile, Bitdeer has pursued vertical integration of its Bitcoin mining operation, from silicon to energy. Founded by Jihan Wu, Bitdeeer recently announced results for its SEALMINER A3 chip, clocking in under 10 J/TH in lab tests.
BTDR is down over 50% year to date, trading at $10.48 as of publishing time.
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