Tether trimmed its Bitdeer position by 627,000 shares, cashing in roughly $12.7 million on June 3‑4, and now holds a 19.7 % stake in the Bitcoin‑mining and AI‑infrastructure firm.
Transaction Overview
The stablecoin issuer off‑loaded the shares at an approximate price of $20 each, according to TheEnergyMag. After the sale, Tether retained 37.7 million Class A shares, preserving its status as one of Bitdeer’s principal shareholders.
Historical Investment Context
Tether first entered the Bitdeer capital table in May 2024, committing up to $150 million through a private placement that positioned the company as an early strategic backer. Earlier in the year, the investor accumulated additional stock in February at an average cost of about $8.85 per share, a price markedly lower than the recent $20 level.
Market Implications
Despite the latest divestiture, Tether’s ownership percentage remains above the figure reported after a separate 2025 sell‑off of roughly 7.7 million shares that generated $166 million and lowered its stake from around 23 % to 18 %. The continued holding signals sustained confidence among crypto investors in Bitdeer’s blockchain‑related mining assets.