Tether, the company behind the USDT stablecoin, is making another big move in the Bitcoin mining industry. A recent filing with the U.S. Securities and Exchange Commission (SEC) reveals that Tether has increased its stake in Bitcoin mining firm Bitdeer, now holding 31,891,689 Class A common shares – 21.4% of the company’s total shares.
This is part of Tether’s growing push into Bitcoin mining, energy, and artificial intelligence. But with Bitdeer’s stock struggling, will these innovations be enough to turn things around?
Here’s an inside look.
In recent years, Tether has moved beyond stablecoins, investing in Bitcoin mining, energy, and artificial intelligence. Bitdeer, founded by crypto industry leader Jihan Wu, is working to integrate its entire Bitcoin mining process, from chip development to energy management.
The company recently introduced the SEALMINER A3 mining chip, which reached a power efficiency of 9.7 joules per terahash (J/TH) in trials. This performance may surpass the efficiency of the S21XP Hydro miner. However, Bitdeer is already developing the SEALMINER A4, which is expected to improve efficiency further to just 5 J/TH, making it the most energy-efficient ASIC miner available.
Despite ongoing advancements, Bitdeer’s stock (BTDR) has struggled, dropping over 50% this year. As of now, BTDR is trading at $10.35. While the stock performance has been weak, the company continues to focus on developing new technology and expanding its mining infrastructure.
Tether has been a key financial supporter of Bitdeer. In May, it invested $100 million to help expand data centers and improve mining hardware. In June, Bitdeer acquired semiconductor design firm Desiwe for $140 million in an all-stock deal, strengthening its ability to produce high-performance mining chips.
Bitdeer recently launched its SEALMINER A2 Pro series, an improved version of its previous A2 model. The series includes two versions:
Both models achieve a power efficiency of 14.9 J/TH, offering better performance, stability, and advanced technology for miners.
Bitdeer is committed to making Bitcoin mining more transparent and efficient. The company continues to invest in research and development, aiming to provide miners with reliable and high-performance solutions. It remains focused on three core principles: innovation, efficiency, and stability, ensuring it stays at the forefront of the mining industry.
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