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. A Tether-affiliated entity 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% stake reported in February.

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