In April 2025, Tether invested approximately $32 million in Bitdeer, a publicly traded Bitcoin mining company. This move occurred as Bitdeer's stock price experienced a decline, dropping nearly 67% year-to-date. The SEC filing revealed Tether's purchase amid a broader downturn for Bitcoin miners, influenced by sideways Bitcoin price movement and increased mining difficulty.
Tether's investment indicates confidence in the Bitcoin mining sector. The stablecoin company previously acquired a stake in Bitdeer last year, increasing it to 24.2% as of April 14. Tether has also announced it would route its Bitcoin hashrate to the OCEAN mining pool, supporting the decentralization of the network's hashing power.
Bitcoin's price is currently around $84,643, according to CoinMarketCap, with a circulating supply of 19.85M BTC. While Bitcoin's all-time high reached $109,356 in January 2025, the cryptocurrency's value and mining operations remain dynamic, influenced by market volatility and technological advancements.