A Tether-linked fund revealed it owns nearly 2 million shares in a Bitcoin mining lender listed on Nasdaq.
A fund backed by Tether unveiled an investment in a Bitcoin mining lender Antalpha as the firm extends its reach into businesses supporting the crypto ecosystem.
In a filing with the U.S. Securities and Exchange Commission, Tether Global Investments Fund said it holds about 1.95 million shares, or 8.2%, of Antalpha Platform Holding Co.
The fund built the stake during the company’s IPO last year. However, it’s only now disclosing it through a Schedule 13D. At current prices, the position is worth about $16 million to $18 million.
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Tether’s Quiet IPO Bet
The filing says the fund acquired the shares as part of the “IPO Allocation,” based on more than 23.6 million shares outstanding after the listing.
- The stake exceeds the 5% threshold that triggers a Schedule 13D, making Tether one of the company’s larger shareholders.
Tether Investments, S.A. de C.V., a subsidiary of the fund, holds the shares, while Giancarlo Devasini, Tether’s chief financial officer, controls the structure through a majority voting interest.
What Bitcoin Mining Antalpha Actually Does
Antalpha acts as a Bitcoin infrastructure provider. It helps miners finance Bitcoin mining machine equipment and manage large-scale operations.
Tether’s investment arm says it deploys cash from its own balance sheet, noting the shares were purchased using “working capital.”
The filing reads the firm may “acquire additional Ordinary Shares, and/or retain and/or sell all or a portion” of its holdings depending on market conditions and company performance.
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