12 June 2025 – Tether Investments S.A. de C.V. (“Tether Investments”), an affiliate of the Tether Group, has announced the acquisition of a substantial stake in Elemental Altus Royalties Corp. (“Elemental”), a publicly listed gold-focused royalty company based in Canada. The investment marks a significant step in Tether’s broader strategy to integrate long-term, stable assets such as gold and Bitcoin into its ecosystem, both as a financial hedge and as part of its commitment to building robust, decentralized, and resilient infrastructure for the digital economy.
On June 10, 2025, Tether Investments acquired 78,421,780 common shares of Elemental (the “La Mancha Shares”) from La Mancha Investments S.à.r.l., representing approximately 31.9% of Elemental’s issued and outstanding shares. This transaction was completed offshore via private agreement.
At the same time as acquiring the La Mancha Shares, Tether Investments signed an option agreement (called the “Alpha 1 Option Agreement”) on June 10, 2025, with AlphaStream Limited and its fully owned subsidiary, Alpha 1 SPV Limited (“Alpha 1”). Both companies are privately held and incorporated under the laws of the Abu Dhabi Global Market.
Under this agreement, Alpha 1 gave Tether Investments the option, but not the obligation, to buy a total of 34,444,580 Elemental common shares (the “Alpha 1 Shares”) in a deal that would take place outside of Canada. This option (the “Alpha 1 Share Option”) is subject to certain terms and conditions. The option cannot be exercised before October 29, 2025, unless Elemental gives its approval.
“Tether’s growing investments in gold and Bitcoin reflect our forward-looking strategy to build a more resilient and transparent financial system,” said Paolo Ardoino, CEO of Tether. “Just as Bitcoin provides the ultimate decentralized hedge against monetary inflation, gold continues to be a time-tested store of value. By gaining exposure to a diversified portfolio of gold royalties through Elemental, we are strengthening the backing of our ecosystem while advancing Tether Gold and future commodity-backed digital assets. This is not just about investment—it’s about building financial infrastructure for the next century.”
A Dual Pillar Strategy: Bitcoin and Gold
Tether Group has previously revealed holdings of over 100000 Bitcoin, an overall ownership of physical Gold close to 80 tons, and its own Tether Gold (XAUT), a token backed by physical gold, that has become an increasingly important component of its product and risk strategy.
“We believe in financial systems that are backed by real assets, not just promises,” added Ardoino. “Our investment in Elemental complements our long-standing belief that tangible assets like Bitcoin and gold will underpin the most durable forms of digital value.”
Strengthening the Backbone of Real-World Asset Finance
Elemental Altus Royalties offers Tether diversified exposure to global gold production through a royalty and streaming model, which avoids the direct operational risks of mining. This model aligns with Tether’s preference for strategic, low-risk exposure to real-world assets that can enhance the transparency and stability of digital financial products.
Tether Investments may pursue further engagement with Elemental’s management and board, exploring avenues for collaboration, governance participation, and long-term capital strategy, subject to regulatory frameworks and market conditions.
The transaction was conducted in compliance with Canadian securities regulations, specifically National Instrument 62-104 – Take-Over Bids and Issuer Bids, and was exempt from formal takeover bid rules.
For more information, please see the official announcement here.
About Tether Investments
Tether Investments is the independent investment arm of Tether, the largest company in the digital assets industry. Based in El Salvador, the firm deploys capital from Tether’s profits and excess reserves across a wide range of sectors where technology, infrastructure, and real-world utility intersect.
Its portfolio includes investments in artificial intelligence, financial services, energy, biotechnology, education, and digital media, as well as strategic stakes in industries such as commodities, remittances, and sports and entertainment. Tether Investments supports ventures with long-term potential to improve access, efficiency, and resilience in both emerging and developed markets. Its work supports Tether Group’s broader mission to strengthen decentralized systems, promote infrastructure resilience, and expand real-world access to open, transparent technologies.
