Tether, the issuer of the world's largest stablecoin, has acquired a controlling stake (70%) in agricultural company Adecoagro for $600 million. The deal, concluded in September 2025, gives Tether access to land resources spanning more than 200,000 hectares in Argentina, Brazil, and Uruguay. Previously, in 2024, the company had already invested $100 million in this agricultural firm. The investment expands Tether's reserve strategy, which previously included acquisitions of gold and Bitcoin, and serves as an additional hedge against inflation and dollar devaluation.
At the same time, Tether remains one of the largest holders of US Treasury bonds: according to the Q1 2026 attestation, their volume stood at approximately $141 billion. Thus, the company is simultaneously betting on scarce physical assets while keeping the bulk of its balance sheet in the very currency whose risks it is trying to hedge against.
KPMG conducted the first full audit of Tether and confirmed that at the end of 2025, the company's reserves exceeded its liabilities by $6.8 billion. Tether CEO Paolo Ardoino called this conclusion a "clean audit" — the highest form of assessment. However, Tether has not published full audited financial statements. According to the June quarterly attestation reviewed by BDO, the reserve buffer shrank to $4.1 billion — approximately 40% over six months. The primary cause was unrealized losses on gold and Bitcoin — the very assets that were supposed to protect the company's balance sheet. The acquisition of agricultural land creates an additional risk: it cannot be quickly sold if Tether requires urgent liquidity.
As part of its new strategy, Tether plans to use renewable energy sources from its agricultural holdings to mine Bitcoin. Paolo Ardoino explained that the company is focused on long-term stability amid global financial uncertainty: "This is a time when we think about the stability of the world, which must be based on real, tangible assets." The emphasis on land underscores Tether's shift in focus from traditional investments toward physical assets capable of preserving value in crisis scenarios.
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This material is prepared exclusively for informational purposes and does not constitute financial advice or a recommendation.