Tether’s unrealised profit from bitcoin investments reaches $1.1 billion

Tether’s unrealised gains on its bitcoin investments stand at $1.1 billion, up 85% since purchase.

Tether’s holdings of BTC currently have a profit of $1.1 billion (+85%). Tether currently holds a total of 57,576 BTC ($2.4B), with a cost of $22,480 per bitcoin. Among them, 53,492 BTC were reserved before March this year, and 4,083 BTC were purchased regularly using 15% of…

— Wu Blockchain (@WuBlockchain) December 5, 2023

According to EmberCN analysts, Tether holds 57,576 BTC at a purchase price of $22,480 per coin. Since May this year the issuer of USDT has allocated to investments 15% of profits.

Experts estimate that in March the company purchased 53,492 BTC, and 4,083 BTC were added as the quarterly results were released.

In November, media reported a $500 million investment by Tether in Bitcoin mining.

Earlier, Northern Data signed a deal with Tether for credit financing of €575 million.

The firm will deploy the funds to scale its Bitcoin mining operations using liquid-cooling technologies for its Peak Mining business.