Tether increases its stake in Bitdeer Technologies

By
In,
0

Tether, the leading company in the stablecoin sector, has strengthened its presence in Bitcoin mining by increasing its stake in Bitdeer Technologies (BTDR).

According to the documents filed with the U.S. Securities and Exchange Commission (SEC), the company has acquired a larger number of shares in the cryptocurrency mining company.

 

Summary

Tether now holds 21.4% of Bitdeer Technologies shares 

From the official documents, it emerges that Tether and its subsidiaries—Tether International, S.A. de C.V. and Tether Investments, S.A. de C.V.—now own 31,891,689 Class A ordinary shares of Bitdeer.

This participation represents the 21.4% of the total shares outstanding of Bitdeer, granting Tether a significant position within the company.

Tether is primarily known for its stablecoin USDT, one of the most used digital currencies in the bull and bear markets of cryptocurrencies.

However, the company has expanded its scope in recent years by investing in Bitcoin mining, energy infrastructure, and artificial intelligence.

Bitdeer: a vertical integration in Bitcoin mining  

Bitdeer, founded by Jihan Wu, is one of the leading companies in the Bitcoin mining sector.

The company has adopted a vertical integration strategy, expanding its control over every phase of the mining process, from chip production to the management of the energy needed to power the data centers.

Recently, Bitdeer announced the results of the laboratory test of its new chip, the SEALMINER A3, which demonstrated an efficiency below 10 J/TH.

This data could represent a step forward for the mining sector, reducing costs and improving the sustainability of operations.

Bitdeer shares in a strong bear  

Despite technological advances and the support of a major investor like Tether, Bitdeer shares (BTDR) are down over 50% since the beginning of the year. At the time of publication, the stock is trading at $10.48.

The negative trend could be linked to the volatility of the cryptocurrency market and the regulatory uncertainties that affect companies in the sector.

A future tied to the evolution of the crypto sector  

The increase in Tether’s stake in Bitdeer confirms the growing interest of companies in the crypto sector in mining and energy infrastructures.
As the market matures, strategic investments like this could determine the future of Bitcoin production and its sustainability.

Previous PostNext Post

Related Posts

Deploying smart contracts on the Ethereum blockchain

First of all, one or more developers must obviously create the smart contract by writing the appropriate lines of code, and then they must send it to the Ethereum network.

In technical terms, publishing it on the Ethereum blockchain means making all the nodes in the network receive and execute it. Once published, all instructions in it will always be executed by all nodes in exactly the same way.

Therefore, not only its publication but also the execution of instructions is irreversible once it is published on the blockchain.

Therefore, what really matters are the instructions it contains – which can be the most diverse – and how many people use it. Indeed, in order for the instructions of a smart contract to actually be executed, there must be one or more transactions that invoke them.

It is also worth remembering that these instructions generally involve the use of resources, such as data or tokens, so for them to actually be executed, all the conditions set as necessary must be met. 

Sometimes this data comes from outside, thanks to so-called oracles, while sometimes it simply comes from transactions on the blockchain.

Usually, the transaction that triggers the execution of the instructions contained in a smart contract involves the payment of a fee in ETH, and in many cases in order to actually trigger the execution also involves the payment or sending of tokens specific to the smart contract itself, or other smart contracts.

Technically, smart contracts are a type of account on the Ethereum blockchain, “controlled” by the network rather than a central entity. They can store ETH or tokens, and can also send transactions on the network autonomously.

Ethereum: how do smart contracts work?

A contract in the Solidity language would be like a kind of union of a code (the functions) and data (its state) located at a specific address on the Ethereum blockchain. Each contract contains declarations of state variables, functions, function modifiers, data structures and events.

How to use Solidity from Ethereum

The MiCA regulation, which came into force with the aim of uniformly regulating the cryptocurrency sector within the European Union, imposes new conditions that particularly concern:

  • – The mandatory authorization of crypto service providers
  • – The transparency of whitepapers
  • – The reserve requirement for stablecoin issuers
  • – Surveillance on systemic risks

One of the main impacts is precisely on stablecoins, like USDT, which will have to demonstrate that they have solid, transparent, and accessible reserve assets.

The platforms that wish to maintain the trading of these tokens within the European market will need to ensure that the assets are fully compliant.

Binance closes Tether trading in Europe to comply with MiCA regulations

Leave a Reply