Tether announces multi-million dollar investment in mining provider

Tether is investing $150 million (USD) in the Nasdaq-listed mining provider Bitdeer. "We are pleased to announce that Tether has made a private investment of up to $150 million in Bitdeer. This strategic investment will fuel the expansion of our data center and drive the development of our ASIC-based mining rigs," the company writes on Platform X.

"Tether is excited about the partnership with Bitdeer. We consider Bitdeer one of the strongest players in the mining industry, with advanced technologies and a robust research and development organization," said Paolo Ardoino, CEO of Tether.

The investment will be used to expand data centers and purchase new ASICs. The news caused Bitdeer's share price to rise 11.68 percent in pre-market trading. Tether's cash register is indeed ringing. For example, the company holds U.S. government bonds worth $91 billion - more than Germany.