The post Bitdeer stock plummets again as Tether trims major stake appeared on BitcoinEthereumNews.com. Bitdeer Technology Group’s week got worse. After the Bitcoin mining company announced a $266 million net loss, its cornerstone investor, Tether, decided to downsize its stake. Summary Bitdeer stock fell sharply Tuesday after Tether trimmed its stake by 7.7 million shares. The sell-off coincided with Bitdeer’s Q3 net loss of $266.7 million, a 422% jump from last year. Tether’s holdings dropped from 38 million to 30.36 million shares, representing an 18% stake. According to a recent filing, Tether has unloaded approximately 7.7 million shares since September, grossing around $166 million and reducing its stake from roughly 23% to 18%. This sell-off, executed through a series of calculated open-market transactions, appears to have acted as a powerful accelerant to the share price volatility already ignited by Bitdeer’s disappointing third-quarter earnings report the day prior. Tether’s stake reduction adds pressure on Bitdeer stock Bitdeer stock has felt the weight of Tether’s gradual exit, which began in mid-September with a series of open-market sales. According to filings with the U.S. Securities and Exchange Commission, Tether sold 351,061 shares on September 12 at an average price of $16.07, followed by consecutive disposals on September 22 and 23 at $17.26 and $18.28 per share, respectively. The strategy shifted into a higher gear in mid-October, however, when Tether executed its most substantial disposals. On October 15 alone, the company sold over 3.2 million shares in several tranches, capitalizing on prices that had climbed to $25.49 and $27.16 per share. Tether’s exit strategy stands in stark contrast to the company’s earlier accumulation of Bitdeer stock. Earlier this year, between February and April, the USDT issuer aggressively expanded its position, purchasing approximately 8 million shares at bargain prices ranging from $7.61 to $10. That buying spree had cemented its status as a cornerstone investor. As of November 10,… The post Bitdeer stock plummets again as Tether trims major stake appeared on BitcoinEthereumNews.com. Bitdeer Technology Group’s week got worse. After the Bitcoin mining company announced a $266 million net loss, its cornerstone investor, Tether, decided to downsize its stake. Summary Bitdeer stock fell sharply Tuesday after Tether trimmed its stake by 7.7 million shares. The sell-off coincided with Bitdeer’s Q3 net loss of $266.7 million, a 422% jump from last year. Tether’s holdings dropped from 38 million to 30.36 million shares, representing an 18% stake. According to a recent filing, Tether has unloaded approximately 7.7 million shares since September, grossing around $166 million and reducing its stake from roughly 23% to 18%. This sell-off, executed through a series of calculated open-market transactions, appears to have acted as a powerful accelerant to the share price volatility already ignited by Bitdeer’s disappointing third-quarter earnings report the day prior. Tether’s stake reduction adds pressure on Bitdeer stock Bitdeer stock has felt the weight of Tether’s gradual exit, which began in mid-September with a series of open-market sales. According to filings with the U.S. Securities and Exchange Commission, Tether sold 351,061 shares on September 12 at an average price of $16.07, followed by consecutive disposals on September 22 and 23 at $17.26 and $18.28 per share, respectively. The strategy shifted into a higher gear in mid-October, however, when Tether executed its most substantial disposals. On October 15 alone, the company sold over 3.2 million shares in several tranches, capitalizing on prices that had climbed to $25.49 and $27.16 per share. Tether’s exit strategy stands in stark contrast to the company’s earlier accumulation of Bitdeer stock. Earlier this year, between February and April, the USDT issuer aggressively expanded its position, purchasing approximately 8 million shares at bargain prices ranging from $7.61 to $10. That buying spree had cemented its status as a cornerstone investor. As of November 10,…