Tether Shakes Up Gold Market with Massive Stake in Elemental!

Tether Snags Nearly a Third of Elemental Shares

Tether Investments just rocked the gold world by grabbing a whopping 31.9% of Elemental shares straight from La Mancha's hands in a private deal. We're talking about Elemental, the Canadian gold mining powerhouse.

78.4 Million Shares Swapped on June 10

On June 10, the stablecoin giant's investment arm scooped up a massive 78.4 million Elemental Altus Royalties shares from La Mancha. This isn't just a small change in the portfolio; it's a strategic move!

Tether's Gold-Backed Dream Gets Real

This isn't just about playing with digital coins. Tether's diving deeper into real-world assets, beefing up its gold-backed digital asset XAUT. With Elemental Altus Royalties, Tether's getting a piece of global gold production without the hassle of direct mining risks. It's all about that royalty and streaming life, baby!

Strategic and Low-Risk, Just How Tether Likes It

"This model vibes perfectly with Tether’s love for strategic, low-risk real-world asset exposure," the company declared. And you know what? They're not wrong!

More Options on the Table

But wait, there's more! On the same day, Tether inked a deal with AlphaStream Limited and Alpha 1 SPV Limited, giving them the green light to snag an extra 34,444,580 shares post-October 29, unless Elemental says otherwise.

AlphaStream and Alpha 1: The Abu Dhabi Connection

AlphaStream and Alpha 1 SPV? They're no small fries. These privately held companies are incorporated under the Abu Dhabi Global Market's laws.

CEO Paolo Ardoino on the Move

Tether's CEO, Paolo Ardoino, isn't messing around. He says this move into Elemental is a clear sign of Tether's dedication to backing its digital assets with solid, tangible stuff like Bitcoin and gold.

Backing the Ecosystem with Gold and Bitcoin

"By getting into Elemental's diversified gold royalties, we're not just playing around. We're strengthening our ecosystem and pushing forward Tether Gold and other commodity-backed digital assets," Ardoino fired up.

Reserves Packed with Bitcoin and Gold

And let's not forget, Tether's sitting on over 100,000 Bitcoins and a hefty 80 tons of gold to keep its XAUT token shining bright.

Open Sourcing Bitcoin Mining OS

Oh, and did I mention? Tether's about to open source its Bitcoin Mining Operating System. That means more companies can dive into mining without relying on third-party software. It's a game-changer!