Since September 2022, Tether has been actively accumulating Bitcoin, with plans to invest up to 15% of its operating profits in the cryptocurrency. In the final quarter of last year, the company purchased 8,888 BTC for a total of $380 million.
Unlike institutional investors who usually rely on third-party custodians, Tether takes a different approach by managing its Bitcoin assets independently, following the philosophy of “not your keys, not your bitcoin.” In December, experts estimated Tether’s profit from Bitcoin investments to be around $1.1 billion.
In an effort to further expand its operations, Tether announced its intention to invest in mining equipment in November. As part of a $610 million credit line, Tether plans to allocate funds to Northern Data Group and also establish its own mining farms in various countries.
In addition to its investment activities, Tether has been seeking trademark registrations in Russia, filing applications with the Russian Federal Intellectual Property Service for four trademarks.