Tether Investments, an affiliate of the Tether Group, has announced the acquisition of a 31.9% stake in Elemental Altus Royalties, a Canadian gold-focused royalty company.
The move is part of Tether's strategy to incorporate stable, long-term assets such as gold and Bitcoin into its ecosystem, enhancing its commitment to a resilient and decentralised digital economy infrastructure.
On 10 June 2025, Tether Investments executed the transaction by purchasing 78,421,780 common shares from La Mancha Investments, representing 31.9% of Elemental's issued and outstanding shares.
This transaction, known as the La Mancha Shares deal, was conducted offshore through a private agreement.
Tether CEO Paolo Ardoino said: “Tether’s growing investments in gold and Bitcoin reflect our forward-looking strategy to build a more resilient and transparent financial system. Just as Bitcoin provides the ultimate decentralised 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 is about building financial infrastructure for the next century.”
Concurrently with the acquisition of the La Mancha Shares, Tether Investments entered into an Alpha 1 Option Agreement with AlphaStream and its subsidiary, Alpha 1 SPV.
The agreement grants Tether Investments the option to purchase an additional 34,444,580 common shares of Elemental, known as the Alpha 1 Shares, under specific terms and conditions.
The option is exercisable no earlier than 29 October 2025, pending Elemental's consent.
Elemental Altus Royalties provides Tether with a broad-based investment in worldwide gold output via a royalties and streaming approach, circumventing the inherent operational hazards associated with mining.
This approach aligns with Tether's inclination towards calculated, minimal-risk investments in tangible assets, aiming to boost the transparency and solidity of its digital financial offerings.
Elemental Altus Royalties has also solidified its asset portfolio by signing a deal with Cornish Metals in July 2024, acquiring two tungsten royalties in Canada for C$6.19m ($4.5m).
This acquisition includes an uncapped 4% net smelter return royalty on the high-grade Mactung Project, operated by Fireweed Metals, which is recognised as one of the world's largest tungsten deposits outside China.
