Tether, the company behind the largest stablecoin, USDT, continues to invest in the mining world. A few weeks ago, Tether made a deal with the US firm Swan, the figures of which were kept confidential, and now it has partnered with Bitdeer.

Could reach $150 million

In the statement made, it was stated that Tether committed to purchase 18 million 587 thousand of Bitdeer’s class A standard shares. On the other hand, the deal includes an option to purchase 5 million additional shares at a price of $10. This shows that the first $100 million investment could increase to $150 million.

Speaking on the subject, Tether CEO Paolo Ardoino said, “We see Bitdeer as one of the fastest growing players in the Bitcoin mining world. Bitdeer’s teams around the world are fully aligned with our long-term outlook.”

The investment will be managed by Cantor Fitzgerald, a firm known for its expertise in asset management and equities.

Bitdeer was founded by Jihan Wu, one of the founders of Bitmain, who had to leave the company amid major events.

Bitdeer has large mining facilities in Norway, the US and Bhutan. The company also mines hydroelectric power plants in partnership with the Bhutanese government.