Tether Increases Holding of Bitdeer Shares, Current Ownership Ratio Reaches 21.4%

BlockBeats News, March 18th, Tether significantly increased its holdings in leading Bitcoin mining company Bitdeer Technologies Group. This strategic move highlights Tether's growing involvement in the Bitcoin mining ecosystem, expanding its investment portfolio beyond stablecoin operation.

According to recent filings submitted to the U.S. Securities and Exchange Commission (SEC), Tether and its subsidiaries currently collectively hold 31,891,689 shares of Bitdeer's Class A common stock, representing approximately 21.4% of the total number of shares issued by the company. Previously, in May 2024, Tether acquired $100 million worth of Bitdeer shares through a private placement and has the option to purchase an additional $50 million worth of shares within 12 months.

Reportedly, the relationship between Tether and Bitdeer is not merely a passive investment but rather a strategic partnership aimed at strengthening the Bitcoin infrastructure. By acquiring a significant stake in a major mining company, Tether positions itself as a direct contributor to the stability and sustainability of the Bitcoin network. (Financefeeds)