Tether Acquires 25% Stake in Bitcoin Miner Bitdeer Amid a Major Financing Deal.
In a significant development, Tether has acquired a significant stake in Bitcoin miner Bitdeer. This was stated in a recent SEC filing.
This acquisition makes Tether the second largest shareholder of Bitdeer. The largest shareholder is Victory Courage Ltd, which is linked to Bitdeer CEO Jihan Wu.
“With the support of Tether, we will accelerate our growth and maintain our leadership in sustainable and efficient Bitcoin mining,” Bitdeer Business Development Manager Linghui Kong said in a recent press release.
Rising Momentum in Bitdeer Shares
Bitdeer shares are currently trading at $7.15, up 2% since the US markets opened. During May, stocks rose a remarkable 26%. In the SEC filing shared on Thursday, Tether Holdings Limited disclosed that it owns 23,587,360 shares of Bitdeer (BTDR) stock. This raise is based on a private placement deal completed with Bitdeer last week, which allowed the Bitcoin miner to raise $100 million in financing. The deal also gives Tether the option to purchase an additional 5,000,000 shares at $10.00 over the next year.
