Tether Invests $150 Million in Bitdeer
Tether, the company behind the USDT stablecoin, has made a significant investment of $150 million in Bitdeer, a Singapore-based mining company. This investment is part of Tether’s strategy to expand into the cryptocurrency mining sector.
Ranked third in the cryptocurrency market by market capitalization, Tether previously announced plans to invest $500 million in mining business development. Earlier this year, the company established a separate division for Bitcoin mining.
Paolo Ardoino, CEO of Tether, stated that Bitdeer is a promising player in the Bitcoin mining industry, with advanced technologies and a strong research base that align with Tether’s strategic vision. The companies also announced plans for collaboration in key infrastructure areas.
Bitdeer, based in Singapore, operates data processing centers in the US, Norway, and Bhutan. The investment from Tether will support the development and expansion of Bitdeer’s business.
This investment demonstrates Tether’s growing interest in the mining industry and strengthens its position in the cryptocurrency ecosystem. Tether is actively expanding its presence in various sectors of the cryptocurrency market, solidifying its position for the future.
