Tether Increases Bitdeer Stake to 21.4%, Now Owns 32 Million Shares

Stablecoin giant Tether has increased its stake in Bitcoin mining company Bitdeer (BTDR), according to its latest filing with the US SEC. The document states that Tether and its subsidiaries now own 31,891,689 Class A common shares in Bitdeer, representing 21.4% of the company’s total outstanding shares.

Bitdeer Introduces SEALMINER A3 Chip

Tether, known for its stablecoin USDT, has been expanding into bitcoin mining, energy, and AI investments in recent years. Bitdeer, founded by Jihan Wu, is looking to vertically integrate its bitcoin mining operations, covering everything from silicon manufacturing to energy solutions. The company recently unveiled the SEALMINER A3 chip. However, Bitdeer (BTDR) shares have fallen more than 50% this year, trading at $10.35 at the time of writing.

Bitdeer’s latest product, the SEALMINER A3, has demonstrated a power efficiency of 9.7 J/TH in testing, potentially surpassing the S21XP Hydro in this regard. The upcoming SEALMINER A4, which will use Bitdeer’s new chip architecture, is expected to achieve an even more impressive 5 J/TH, making it the most efficient ASIC miner on the market.

In May, Bitdeer raised $100 million from Tether to expand its data centers and develop its own mining hardware. In June, the company acquired semiconductor design firm Desiwe for $140 million in an all-stock deal.

Bitdeer Launches SEALMINER A2 Pro Series

The company also recently announced the launch of its new Bitcoin mining machines, the SEALMINER A2 Pro series. The SEALMINER A2 Pro series, an improved version of the A2, includes two models: the air-cooled SEALMINER A2 Pro Air and the water-cooled SEALMINER A2 Pro Hyd. Both models offer an impressive power efficiency of 14.9 J/TH, demonstrating improved technology and stability.

Bitdeer aims to increase transparency and efficiency in the mining industry by investing in research, development, and technological innovation. The company aims to provide miners with reliable and efficient solutions and will continue to focus on “Innovation, Efficiency, and Stability” to offer high-quality products and services to global miners.

Source: cryptonews.net