Tether disclosed a major equity stake in Bitcoin mining finance firm Antalpha through its 2025 initial public offering, according to a regulatory filing released Monday, placing the stablecoin issuer among the largest participants in the public listing.
Tether holds 1.95 million shares in Antalpha. This represents about 8.2% of the company’s outstanding equity after the IPO. The filing shows Tether acquired more than half of the shares offered.
Antalpha provides financing services to bitcoin mining companies. It issues loans backed by Bitcoin and mining equipment. The firm helps clients fund hardware purchases and manage operating costs.
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In terms of partnerships, the company collaborates with Bitmain, one of the largest producers of crypto mining equipment. This helps with the firm’s position in the mining supply chain.
The company went public on Nasdaq in May 2025. Antalpha issued its shares at an IPO valuation of $49 million at $12.80 per share. According to the press release, Tether’s stake in the offering makes it one of the major investors.
However, despite a successful public offering, the company’s shares have dropped since. Currently, they trade more than 28% lower than their IPO price. Shares changed hands at around $9.77 on Monday, according to Yahoo Finance.
There are certain trends in the industry that have occurred lately. Specifically, some companies have switched their focus from Bitcoin mining to developing AI and HPC technologies and infrastructure.
In 2025, Antalpha shows solid revenue growth. It reported a revenue increase of 68% to $79.8 million. In addition, the company tripled its net income at $18.5 million for the year.
This investment continues the trend of active deal-making by Tether. As before, the firm backs various projects related to infrastructure within the crypto ecosystem. Also, it participated in blockchain-related funding rounds.
Tether supported a $134 million private placement with Stablecoin Development Corporation. The vehicle is exposure-oriented towards the Sky ecosystem. The shift indicates ongoing enthusiasm around stablecoin-based systems.
In 2026, the company co-led a round of funding to Utexo amounting to $7.5 million. The startup develops USDT settlement on top of Bitcoin. It also participated in a $5.2 million seed round in Ark Labs.
Ark Labs develops programmable finance systems on Bitcoin. Such initiatives emphasize the infrastructure creation throughout the network. The firm has been working on increasing applications associated with USDT.
Beyond crypto, Tether also bought an investment in Eight Sleep. The company was valued at $1.5 billion. The investment helps it to grow in AI and consumer hardware.
On Monday, Kaio declared that Tether participated in its $8 million funding round. The company is engaged in tokenization of real-life assets. The relocation contributes to the active investment of Tether.
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