Tether Acquires $89 Million Stake in Canadian Gold Mining Firm

Tether Investments, affiliated with the largest stablecoin issuer, has acquired a 31.9% stake in the gold mining company Elemental Altus Royalties.

Tether Acquires Strategic Stake in Elemental Altus to Deepen Push Into Gold and Hard Asset-Backed Financial Infrastructure
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— Tether (@Tether_to) June 12, 2025

The transaction took place outside Canada as part of a private agreement with La Mancha Investments. It involved the purchase of 78.4 million common shares valued at equivalent to $89.2 million.

On the same day, Tether Investments signed an option agreement with AlphaStream Limited and its subsidiary Alpha 1 SPV Limited. The document grants the right (but not the obligation) to acquire an additional 34.4 million shares of Elemental. The option cannot be exercised before October 29, 2025, without approval from the Canadian company.

The investments are part of Tether’s strategy to strengthen its position in the segment of assets backed by tangible values, such as gold and Bitcoin. According to the company’s head, Paolo Ardoino, the resilience of digital financial infrastructure requires reliance on time-tested assets.

Elemental will provide Tether with “diversified access to global gold mining without operational risks.” The company does not rule out the possibility of closer collaboration with the management of the Canadian issuer, including participation in management and the formation of long-term strategy.

Tether is actively diversifying its business: engaging in Bitcoin mining, investing in crypto projects, including enterprises with treasuries in digital gold.

Back in April, Ardoino called the company’s valuation of $515 billion underestimated.

Earlier, Tether and Bitfinex announced support for the blockchain project Stable based on USDT.