TLDR
- Tether disclosed ownership of 1.95 million Antalpha shares after the 2025 IPO.
- The stake represents about 8.2% of Antalpha’s outstanding equity after listing.
- Antalpha posted nearly $80 million in 2025 revenue, up 68% from a year earlier.
- Antalpha shares traded near $9.30, down more than 27% from the $12.80 IPO price.
- Antalpha lends to bitcoin miners and works closely with mining hardware maker Bitmain.
Tether has disclosed a large stake in Antalpha, a bitcoin mining finance company linked to Bitmain. The filing shows Tether holds 1.95 million shares, or about 8.2% of Antalpha’s equity after its 2025 IPO. The disclosure places fresh attention on Tether’s expanding investment activity across crypto and related sectors.
The move also comes as bitcoin mining companies face a changing market. Many firms are adjusting their plans, and some are shifting toward AI and high-performance computing services.
Tether confirms large post-IPO position in Antalpha
A regulatory filing released on Monday showed that Tether acquired its Antalpha position through the company’s 2025 initial public offering. The stablecoin issuer bought more than half of the shares sold in the offering. That made it one of the largest investors in the deal.
Antalpha listed on Nasdaq in May 2025. The company raised about $49 million in the offering and priced its shares at $12.80 each. Tether’s disclosed holding now totals 1.95 million shares.
The filing values Tether’s stake as one of the company’s largest outside positions. Antalpha said the holding accounts for roughly 8.2% of its outstanding equity after the IPO. That level gives Tether a clear presence in the company’s shareholder base.
Tether is best known as the issuer of USDT, the largest stablecoin by market value. In recent months, the company has also increased its deal activity. It has backed projects in crypto, AI, robotics, and consumer technology.
Antalpha grows revenue as its share price remains under pressure
Antalpha focuses on lending and financing for the bitcoin mining industry. It offers loans backed by bitcoin and mining machines. The company also helps miners fund equipment purchases and operating costs.
The business has close ties to Bitmain, a major maker of crypto mining hardware. That link has helped Antalpha build its place in the mining finance market. Its model is built around serving miners that need credit and equipment support.
Antalpha reported strong growth in its latest annual results. Full-year 2025 revenue rose 68% to nearly $80 million. Net income increased more than threefold to $18.5 million.
Even so, the stock has struggled since listing. On Monday, Antalpha shares traded around $9.30. That price was more than 27% below the IPO level.
The market pressure comes during a broader shift in the mining industry. A growing number of public miners are moving away from pure bitcoin mining. Many are now putting more focus on AI and high-performance computing infrastructure.
Tether adds Antalpha to a wider list of recent investments
The Antalpha position adds another name to Tether’s recent investment activity. The company has taken part in several deals tied to digital assets and network infrastructure. It has also expanded beyond core crypto businesses.
Tether recently backed a $134 million private placement tied to Stablecoin Development Corporation. That public vehicle was created to provide exposure to the Sky ecosystem. The company also joined an $8 million strategic round for RWA startup Kaio.
Earlier in 2026, Tether co-led a $7.5 million round in Utexo. That startup is building USDT settlement infrastructure on Bitcoin. It also joined a $5.2 million seed round for Ark Labs, which is building programmable finance tools on the same network.
Outside crypto, Tether recently took a strategic stake in Eight Sleep. That deal valued the sleep technology company at $1.5 billion. The investment showed that Tether is still widening its reach while keeping a strong presence in digital asset markets.
The Antalpha filing adds a new data point to that strategy. It shows that Tether is still backing companies linked to bitcoin infrastructure. It also shows continued interest in businesses tied to mining finance and market plumbing.
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