Tether Secures 8.2% Ownership in Bitcoin Mining Lender Antalpha

Key Highlights

• The stablecoin issuer purchased 1.95 million Antalpha shares, representing 8.2% ownership after the company’s May 2025 Nasdaq debut
• Antalpha specializes in Bitcoin-collateralized financing and hardware leasing for mining operations, managing a $1.6 billion loan book
• The mining lender posted $79.7 million in 2025 revenue, representing 68% annual growth, while net earnings surged to $18.5 million
• Antalpha stock currently trades near $9.97, reflecting a decline of over 28% from its initial $12.80 offering price
• The stablecoin company’s portfolio now spans more than 120 investments, including Kaio, Eight Sleep, Gold.com, and Anchorage Digital

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The world’s leading stablecoin provider has established a significant position in Antalpha, a specialized Bitcoin mining financier that completed its Nasdaq public offering in May 2025.

https://twitter.com/CoinMarketCap/status/2046353259267252326?s=20

Regulatory documents filed with the US Securities and Exchange Commission via Schedule 13D reveal that Tether now controls 1.95 million shares through affiliated corporate structures. The filing identifies Giancarlo Devasini, who serves as Tether’s chairman, as the individual with voting authority and investment control over these holdings.

Antalpha operates as a financing provider offering [[LINK_START_0]]Bitcoin[[LINK_END_0]]-collateralized credit facilities and equipment leasing services to cryptocurrency mining businesses. The firm maintains strategic partnerships with Bitmain, a dominant manufacturer in the mining hardware sector.

At year-end 2024, Antalpha disclosed total outstanding loans approaching $1.6 billion. The mining finance company generated approximately $49.3 million through its initial public offering, pricing shares at $12.80 each.

Tether had publicly disclosed its intention to acquire up to $25 million in shares during the offering period. SEC filings indicate the company ultimately purchased more than fifty percent of the available IPO shares.

Financial performance at Antalpha demonstrates robust expansion. The company delivered $79.7 million in 2025 revenue, marking a 68% improvement compared to the previous year. Net profitability climbed to $18.5 million, representing more than triple the prior-year figure.

Despite these operational achievements, market performance has been disappointing. Shares closed Monday trading near $9.97, representing a decline exceeding 28% from the IPO pricing.

Strategic Investment Expansion

The Antalpha position represents one element of a comprehensive investment initiative Tether has pursued using operational earnings. Chief Executive Paolo Ardoino has disclosed that the company’s venture division has supported over 120 portfolio companies.

[[LINK_START_1]]https://twitter.com/paoloardoino/status/1947945865026367634[[LINK_END_1]]

In February, Tether committed $100 million in equity capital to Anchorage Digital, a federally regulated cryptocurrency banking institution in the United States. During that same period, the company acquired $150 million in equity representing approximately 12% ownership of Gold.com.

March saw Tether spearhead a $50 million funding round for Eight Sleep, a technology company specializing in intelligent sleep systems and wellness products, achieving a $1.5 billion valuation.

Also on Monday, Kaio, a platform focused on tokenizing real-world assets, confirmed Tether’s participation in an $8 million capital raise.

Additional investments include co-leading a $7.5 million financing round in Utexo during 2026, a developer working on USDT settlement infrastructure built on Bitcoin, plus involvement in Ark Labs’ $5.2 million seed funding, which creates programmable financial systems utilizing Bitcoin technology.

Industry Dominance

Tether’s USDT stablecoin commands a market capitalization near $187 billion, accounting for roughly 58.4% of the entire stablecoin sector, which totals approximately $320.7 billion based on DefiLlama data.

Recent reports suggested the company was exploring additional capital raising at a $500 billion corporate valuation, though management has signaled potential postponement if investor appetite proves insufficient.

The regulatory filing notes that Tether and associated entities reserve the right to adjust their Antalpha shareholdings—either increasing or decreasing the position—based on evolving market dynamics.