Tether Takes 8.2% Stake in Antalpha, Expanding Reach in Bitcoin Mining Finance

Tether has acquired a stake in Bitcoin mining finance firm Antalpha, extending its influence in the sector.

A filing with the US Securities and Exchange Commission on April 21 showed Tether bought an 8.2% stake in Antalpha, making it a major shareholder. The position totals about 1.95 million shares. The filing also showed Tether Chairman Giancarlo Devasini shares voting and dispositive power over the stake.

Tether said it may increase or reduce the holding depending on market conditions and other factors.

Antalpha provides Bitcoin-backed lending and financing for mining equipment. As of the end of 2024, it had a loan portfolio of about $1.6 billion. The company is also known for close ties to the Bitmain ecosystem.

Antalpha raised about $49.3 million in its initial public offering in May 2025, with shares priced at $12.80. Tether had previously said it intended to buy as much as $25 million of stock in the offering.

The company has also posted strong growth. Antalpha reported 2025 revenue of $79.7 million, up 68% from a year earlier, while net income more than tripled to $18.5 million.

Antalpha shares were trading at about $9.97 in early trading on April 21, up roughly 7.2%.

Tether is the largest stablecoin issuer, with a market capitalization of about $187 billion and a 58.4% share of the overall stablecoin market, valued at about $320.7 billion. The latest investment underscores Tether's push to expand its influence across mining and the broader Bitcoin finance market.