Tether invests more in Bitdeer Bitcoin miner
Tether invests more in Bitdeer
The issuer of USDT Tether has increased its holdings in Bitcoin miner Bitdeer (BTDR), continuing the investment pattern that started almost a year ago.
According to the U.S. Securities and Exchange Commission (SEC) filing, Tether used its working capital to make the acquisition. It now owns 21% of BTDR.
Tether first made a foray into the Singapore-based company in May 2024, making a $100 million investment. In return, it acquired 18.59 million of Class A shares and option to buy 5 million more at $10 apiece.
Despite Tether making the investment in Bitdeer, its stock price has essentially remained the same.As of March 18, 2025, Bitdeer Technologies Group (NASDAQ: BTDR) is trading at $10.01 per share, reflecting a decrease of approximately 4.49% from the previous close.
While the company experienced significant volatility over the past year, reaching a 52-week high of $26.99 and a low of $5.23 per stock, Rosenblatt Securities maintains a buy rating. It also adjusts their price target to $25 from $30, citing Bitdeer's strategic initiatives in mining, infrastructure, and AI as key growth drivers for 2025.
Bitdeer is a cloud mining service that allows users to mine cryptocurrencies such as Bitcoin without having to own physical mining equipment. Essentially, it enables users to rent mining power (hashrate) from mining farms that Bitdeer operates or partners with.
This is not the first time Tether makes an investment in different companies. The company previously invested $200 million in Blackrock Neurotech, a company specializing in brain-to-computer interface technologies, securing a majority stake.
It also announced a $775 million strategic investment in Rumble, a video-sharing platform, to enhance decentralized and community-owned media platforms and purchased a minority stake in Juventus, an Italian professional football club, as part of its exploration into sports franchise investments.
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