Tether Boosts Bitdeer Stake by 21.4%, Strengthens Bitcoin Mining Role

Tether, a prominent stablecoin issuer, has significantly increased its stake in Bitdeer, a leading Bitcoin mining company. According to a recent filing, Tether and its subsidiaries now hold a total of 31,891,689 Class A common shares in Bitdeer, which represents 21.4% of the company's total shares. This strategic move underscores Tether's growing interest and investment in the Bitcoin mining sector, potentially signaling a broader trend of stablecoin issuers diversifying their portfolios to include more direct involvement in the cryptocurrency ecosystem.

Bitdeer, founded by Jihan Wu, is known for its advanced mining technologies and extensive mining operations. The company has been actively expanding its capabilities, recently announcing the SEALMINER A3 chip, which achieved a power efficiency of 9.7 J/TH in trials. This chip is part of Bitdeer's broader strategy to vertically integrate its Bitcoin mining operations, covering everything from silicon to energy. The upcoming SEALMINER A4, which will use Bitdeer’s new chip architecture, is expected to reach an even more impressive 5 J/TH, making it one of the most efficient ASIC miners on the market.

Tether's investment in Bitdeer not only strengthens the latter's financial position but also enhances its operational capabilities. This partnership could lead to further innovations in Bitcoin mining, potentially improving efficiency and sustainability in the sector. In May, Bitdeer received a $100 million investment from Tether to help expand its data centers and develop its own mining hardware. In June, the company acquired semiconductor design firm Desiwe for $140 million in an all-stock deal, further bolstering its technological capabilities.

Bitdeer's latest product, the SEALMINER A2 Pro series, includes two models: the air-cooled SEALMINER A2 Pro Air and the hydro-cooled SEALMINER A2 Pro Hyd. Both models offer impressive power efficiency at 14.9 J/TH, featuring better efficiency, advanced technology, and improved stability. This series is an updated version of the A2 and is part of Bitdeer's commitment to providing miners with reliable, efficient solutions.

Tether's decision to boost its stake in Bitdeer can be seen as a strategic move to secure a more significant role in the Bitcoin mining industry