Stablecoin USDT Issuer Tether Acquires Significant Shares in Canadian Gold Royalty Company Elemental Altus Royalties
Tether’s investment arm, Tether Investments, announced on Thursday the acquisition of a substantial stake in Canadian gold royalty company Elemental Altus Royalties, further deepening its financial infrastructure layout supported by gold and hard assets.
According to the press release, Tether Investments acquired 78,421,780 common shares of Elemental from La Mancha on June 10, representing approximately 31.9% of Elemental’s issued and outstanding shares. Additionally, Tether Investments signed an option agreement with AlphaStream and its wholly-owned subsidiary Alpha 1, granting Tether Investments the right to purchase 34,444,580 common shares of Elemental in transactions conducted outside Canada.
Tether stated that Elemental’s royalty and stream model allows Tether to diversify its investment in global gold production while avoiding the operational risks associated with direct mining participation. Following the completion of the transaction, Tether Investments may engage further with Elemental’s management and board to explore collaboration, management participation, and long-term capital strategies.
In the past, Tether has revealed its holdings of over 100,000 bitcoins and nearly 80 tons of physical gold, while also issuing the gold-backed token Tether Gold (XAUT). Tether CEO Paolo Ardoino noted, “Tether’s continued investment in gold and bitcoin reflects our forward-looking strategy to build a more resilient and transparent financial system. Just as bitcoin provides the ultimate decentralized hedge against currency inflation, gold remains a time-tested store of value.”
This investment continues Tether’s proactive strategy to expand its portfolio of physical assets and infrastructure investments. In recent years, Tether has invested billions of dollars in several companies, including the video platform Rumble, German cloud and AI technology company Northern Data AG, and South American agricultural leader Adecoagro SA.
