Tether Discloses 8.2% Stake in Antalpha After IPO

A regulatory filing shows Tether holds 1.95 million shares of Antalpha, equal to about 8.2% of the company's outstanding equity after Antalpha's May 2025 Nasdaq initial public offering. Tether acquired the position through the IPO allocation and bought more than half of the shares sold to outside investors.

Antalpha priced the offering at $12.80 per share and raised roughly $49 million. Since the IPO, Antalpha's stock has traded below the offering price, changing hands around $9.30 and down more than 27% from the IPO level.

Antalpha provides loans and financing to the bitcoin mining industry and works with Bitmain, a manufacturer of crypto mining hardware. The company issues loans secured by bitcoin and by mining rigs to help miners buy equipment and cover operating costs.

In full-year 2025, Antalpha reported revenue of nearly $80 million, up 68% year over year, and net income of $18.5 million, more than triple the prior period.

Market activity in the bitcoin mining sector includes several public operators reducing exposure to pure-play bitcoin mining or shifting assets into artificial intelligence and high-performance computing infrastructure. Companies focused mainly on bitcoin mining finance and equipment have faced downward pressure on their share prices.

The filing does not disclose the price Tether paid for the Antalpha shares beyond confirming the acquisition occurred via the IPO allocation. With the disclosed stake, Tether is among Antalpha's largest shareholders after the offering.

Tether has made other investments across crypto, AI and consumer hardware. In 2025 it backed a $134 million private placement tied to Stablecoin Development Corporation. In 2026 it co-led a $7.5 million round for Utexo and participated in a $5.2 million seed round for Ark Labs. Tether also took a strategic stake in sleep-technology firm Eight Sleep at a $1.5 billion valuation and joined an $8 million strategic funding round for real-world-asset startup Kaio.