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Tether sells 627,000 Bitdeer shares for roughly $12.7 million

A Schedule 13D amendment showed Tether's Bitdeer stake slipped to 19.7% from 20.1% after the June 3-4 sales, while the group retained 37.7 million Class A shares.

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Summary

Tether affiliates reduced their stake in Bitcoin miner and AI data center operator Bitdeer after selling 627,021 Class A shares on June 3 and June 4 for about $12.7 million in total proceeds. A Schedule 13D amendment filed Tuesday showed Tether Investments sold 373,904 shares at a weighted average price of $20.3668 on June 3 and 253,117 shares at $20.0137 on June 4. As of June 12, Tether's holding stood at 37.7 million Class A shares, or 19.7%, down from 20.1% reported in February. The filing also said Tether Global Investments Fund and Giancarlo Devasini share voting and dispositive power over the stake.

Terms & Concepts
  • Schedule 13D: A U.S. regulatory filing used to disclose when an investor holds a significant stake in a public company and related changes to that position.
  • Class A shares: A category of company stock with rights defined by the issuer, often including specific voting or ownership features.
  • voting and dispositive power: The authority to vote shares and to decide whether those shares can be sold or otherwise transferred.