Tether purchased $42 million worth of Bitdeer (NASDAQ: BTDR) shares last week, increasing its total stake to 20.1% at a time when the miner’s stock fell 18% amid a broader market downturn.
Via its investment subsidiaries, Tether now holds 38,356,531 shares in the bitcoin miner, up from 32,244,062 shares at the end of November 2025. The largest transaction occurred Thursday, with Tether buying 3.7 million shares as the stock traded near its lowest levels since April 2025. Tether took its first stake in Bitdeer in 2024, but it previously trimmed its position during a market rally late last year before starting to rebuild it in November 2025.
In tandem with this news, Bitdeer liquidated its entire bitcoin treasury on Friday. Per a company announcement on X, Bitdeer said it now holds zero bitcoin in its corporate treasury, adding in another post that the decision “should not be a concern for the broader market” as the company plans for “non-binding powered land acquisition opportunities.”
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Bitdeer shares closed at $7.78 on Friday following the announcement of a refinancing package. The package included an upsized $325 million convertible senior notes deal and a registered direct equity offering, adding in another post that the decision “should not be a concern for the broader market” as the company plans for “non-binding powered land acquisition opportunities.”
