Stablecoin issuer discloses beneficial ownership following partial share sale and affiliate transfer

Tether has disclosed a 19.7% beneficial ownership stake in Bitdeer Technologies Group, holding 37.7 million Class A ordinary shares following a partial share sale and affiliate transfer, according to an SEC filing reviewed by Tether Global Investments Fund.

The disclosure underscores Tether’s expanding role as an infrastructure investor beyond its core stablecoin business. The company has increasingly deployed capital into Bitcoin mining, energy, and adjacent infrastructure assets as crypto-native balance sheets grow more sophisticated.

Bitdeer operates Bitcoin mining operations and has attracted investor attention for potential pivots into artificial intelligence and high-performance computing infrastructure. Mining companies face growing pressure to justify valuations beyond Bitcoin production alone, with investors increasingly evaluating whether miners can leverage power access and data-center expertise to generate AI infrastructure revenue.

The stake reflects Tether’s broader investment thesis. Stablecoin issuers, cryptocurrency exchanges, and large funds are increasingly allocating to infrastructure, miners, AI-adjacent businesses, and yield-generating products. Tether’s holdings in Bitdeer represent one piece of a diversified infrastructure portfolio that extends beyond digital asset custody and settlement.

Tether Global Investments Fund reported the 37.7 million shares in the SEC filing. A partial transaction involving 627,021 shares preceded the disclosure, though the timing and financial terms of that sale were not specified in available materials.

The ownership structure involves multiple Tether affiliates, though the specific entities holding portions of the remaining stake and their individual allocations were not detailed in the filing.

Bitdeer’s operational focus and infrastructure strategy have positioned the company as a target for institutional capital seeking exposure to both mining economics and emerging compute infrastructure markets. The Tether investment signals confidence in the company’s ability to scale beyond traditional mining revenue streams.