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Q3 Tether Profit Reaches $2.5B on Treasury, Gold Success

Key Points:

Tether reported substantial profits in Q3 2024, with a net profit of $2.5 billion.
Tether has allocated $7.7 billion of profit to renewable energy, Bitcoin mining, AI, telecommunications, and education⁠.

Tether profit soars in 2024, reaching $2.5 billion in Q3. USDT market value hits $120 billion. Gains from US Treasuries and gold drive growth.

Tether, the issuer of the largest stablecoin, has reported substantial profits in recent quarters. In the third quarter of 2024, Tether made a net profit of $2.5 billion. Tether reports that this profit mainly came from gains in the US Treasury and gold holdings.

Tether Profit Keeping Going Up in Recent Quarters

Quarter	Profit (USD Billion)	Key Financial Notes
Q4 2023	2.85	Significant gains from gold and Bitcoin; annual profit at $6.2 billion.
Q1 2024	4.52	Primarily driven by U.S. Treasury holdings and gains in Bitcoin and gold.
Q2 2024	5.2	Increased investments; growth in Bitcoin reserves and treasury assets.
Q3 2024	2.5	Tether Hits $7.7 Billion 2024 Nine-Month Profits, $102.5 Billion in U.S. Treasury Holdings.

The market value of Tether’s USDT token is growing significantly and has reached almost $120 billion in circulation. Tether says its market value increased because more people wanted this type of stablecoin during the crypto bull market. Moreover, the firm reports having more than $6 billion in excess reserves.

That involves heavy investments in US Treasuries, now over $102 billion. The company is making a buck off the interest coming from those Treasury bills, which are most of the reserves backing its stablecoins. Tether reported that gold brought in about $1.1 billion in unrealized profits. Treasury exposure added another $1.3 billion in the last quarter.

Diversified Investment Strategy Pays Off

The company has spread its investments by putting 7.7 billion dollars into renewable energy, Bitcoin mining, artificial intelligence, telecommunications, and education, among other areas. In addition, as of 30 September 2024, Tether’s investing arm also owned an additional 7,100 Bitcoin.

Tether has been on an upward profit trajectory of late. In Q4 2023, the company made $2.85 billion and broke more records in 2024. The first quarter of the year saw the profits rise to $4.52 billion, while by the end of Q2, Tether had pulled in $5.2 billion.

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Thana

I am a news editor at Coincu, where I produce daily editorial packages and manage the knowledge and review article sections. Before journalism, I earned a Bachelor's degree in Global Logistics and Supply Chain Management from Northampton University and studied news journalism at Press Association Training.