Tether Investments, an affiliate of Tether company Group, has acquired a 31.9% stake in Elemental Altus Royalties. This is a gold-focused Canadian royalty company. Thus, Tether will strengthen its stable long-term assets such as gold and bitcoin.
On June 10, Tether Investments privately purchased 78,421,780 common shares from La Mancha Investments, representing 31.9% of Elemental’s issued and outstanding shares.
Tether Investments also entered into the Alpha 1 Option Agreement with AlphaStream and its subsidiary Alpha 1 SPV. The agreement provides Tether Investments with an option to acquire an additional 34,444,580 ordinary shares of Elemental, known as Alpha 1 shares, subject to certain conditions. The option may be exercised no earlier than October 29, 2025, subject to the consent of Elemental.
Meanwhile, the US-based SharpLink Gaming acquired 176,270.69 ETH for approximately $463 million, making it the largest public holder. The acquisition was completed at an average price of $2,626 per ETH, including fees. SharpLink Gaming is now ahead of only the Ethereum Foundation in terms of the amount of Ether.
SharpLink reported that more than 95% of its Ether reserves are actively involved in staking and liquid staking, which contribute to network security and generate revenue.
The day before, SharpLink Gaming closed a $425 million private placement led by Consensys Software Inc. and other investors to launch its Ethereum treasury. This made SharpLink one of the first companies on the Nasdaq to adopt Ethereum as its main custodial reserve asset.
Source: Tether, SharpLink Gaming
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