Tether Boosts Stake in Bitdeer to 21.4%, Now Holds 32M Shares

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As per recent a filing with the U.S. SEC, stablecoin giant Tether has increased its stake in Bitcoin mining firm Bitdeer (BTDR). The filing shows that Tether and its subsidiaries, currently hold a total of 31,891,689 Class A common shares in Bitdeer, representing 21.4% of the company’s outstanding shares.

Bitdeer Reveals SEALMINER A3 Chip

Tether, known for its stablecoin USDT, has expanded into Bitcoin mining, energy, and AI investments in recent years. Bitdeer, founded by Jihan Wu, is aiming to vertically integrate its Bitcoin mining operations, covering everything from silicon to energy. The company recently announced the SEALMINER A3 chip. However, Bitdeer’s stock (BTDR) has dropped over 50% this year, trading at $10.35 as of writing.

Bitdeer’s latest product, the SEALMINER A3, achieved a power efficiency of 9.7 J/TH in trials, potentially surpassing the S21XP Hydro in efficiency. However, 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 the most efficient ASIC miner on the market.

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.

Bitdeer Launches SEAMLINER A2 Pro Series

Besides, it recently announced the launch of its latest self-developed Bitcoin mining machines, the SEALMINER A2 Pro series. The SEALMINER A2 Pro series, an updated version of the A2, 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.

Bitdeer is dedicated to improving transparency and efficiency in the mining industry by investing in research, development, and technological innovations. The company aims to provide miners with reliable, efficient solutions and will continue to focus on “Innovation, Efficiency, and Stability” to deliver high-quality products and services to global miners.