Tether sells 627,000 Bitdeer shares, netting $12.7 million

According to a Schedule 13D amendment filed on Tuesday, Tether has begun reducing its stake in Bitdeer, a Bitcoin mining and AI data center operator. Tether-related entities reported holding 37.7 million Bitdeer Class A shares as of June 12, representing 19.7% of the company's outstanding Class A shares, down from the 20.1% reported in February.

The filing shows that on June 3, Tether Investments sold 373,904 Bitdeer shares at a weighted average price of $20.3668, and on June 4, sold 253,117 Bitdeer shares at a weighted average price of $20.0137. The two sales totaled 627,021 shares, generating approximately $12.7 million in proceeds. According to the latest filing, both Tether Global Investments Fund and Tether executive Giancarlo Devasini reported shared voting and dispositive power over the 37.7 million Bitdeer shares. (theenergymag)