Tether Expands Its Portfolio with $89 Million Acquisition of Elemental Altus Royalties Stake

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

The transaction took place outside Canada as part of a private agreement with La Mancha Investments, involving the purchase of 78.4 million common shares valued at approximately $89.2 million.

On the same day, Tether Investments signed an option agreement with AlphaStream Limited and its subsidiary Alpha 1 SPV Limited. This document grants Tether 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 the approval of the Canadian company.

These investments are part of Tether’s strategy to enhance its presence in asset classes backed by tangible values such as gold and Bitcoin. According to the company’s CEO, Paolo Ardoino, the resilience of digital financial infrastructure relies on time-tested assets.

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

Tether is actively diversifying its business; it is involved in Bitcoin mining, invests in crypto projects, and has acquired businesses with treasuries in digital gold.

Ardoino previously characterized the company’s valuation of $515 billion as undervalued. Additionally, Tether and Bitfinex have announced their support for a blockchain project named Stable based on USDT.