Tether Cashes Out $12.7 Million in Bitdeer Stock

The transaction leaves Tether with 37.7 million Class A shares, preserving a 19.7% stake in the mining and AI infrastructure firm. This move contrasts sharply with the company’s aggressive accumulation strategy in early 2024, when it first committed $150 million to the enterprise. By selling at the $20 mark, Tether effectively capitalized on a valuation surge, as its original entry point sat closer to $8.85 per share.

Bitdeer continues to pivot its operational focus toward high-growth sectors, specifically AI cloud services and data center infrastructure. The company recently appointed former Corsair Gaming finance chief Michael Potter to guide its capital-intensive expansion. With mining operations spanning the U.S., Norway, Bhutan, and Ethiopia, management is actively balancing traditional Bitcoin production with new revenue streams, which generated approximately $69 million in annual recurring revenue for its AI cloud division as of recent reporting.

Market response to the divestment has remained muted. Bitdeer shares closed at $18.25 on June 16, showing minimal volatility following the disclosure. Tether CEO Paolo Ardoino continues to characterize the partnership as a strategic alignment, positioning Bitdeer as a vertically integrated leader. Despite the periodic trimming of its position, Tether remains deeply tethered to the firm’s long-term infrastructure goals.