Tether has purchased a 32% stake in Canadian Bitcoin mining firm Elemental Altus Royalties, marking another significant step in its push into the Bitcoin mining sector. The deal reflects Tether’s continued diversification strategy as it deepens involvement in infrastructure supporting the Bitcoin ecosystem.
The acquisition was carried out through Tether’s mining division, Tether Power, and aligns with its broader goal of bolstering energy and mining operations globally. The company has recently made similar moves in Latin America and Europe, aiming to secure long-term exposure to Bitcoin production.
Elemental Altus focuses on acquiring and managing royalty interests in mining operations, providing Tether with a revenue stream tied to mining performance without directly operating facilities. This model allows for exposure to mining upside while minimizing operational risk.
Tether’s latest investment highlights its intent to become a major player beyond stablecoins, reinforcing its commitment to supporting Bitcoin at the infrastructure level. As the stablecoin issuer continues to grow its footprint in mining, industry observers are watching to see how these moves influence the broader crypto landscape.
