Tether Adds Farmland to Gold and Bitcoin Reserve Strategy

Tether, the firm behind the leading stablecoin, has paid $600 million to take majority control of a South American agricultural conglomerate, incorporating land into a reserve strategy that already encompasses gold and Bitcoin (BTC).

The acquisition comes after a clean audit from KPMG, one of the Big Four. Yet Tether’s own reserve cushion has dropped 40% since then, casting doubt on its scarce-asset hedges.

Farmland Added to Reserve Mix Alongside Gold and Bitcoin

Tether picked up roughly 70% of Adecoagro, a Nasdaq-listed agribusiness that cultivates more than 200,000 hectares across Argentina, Brazil, and Uruguay. The transaction grew to around $600 million by September 2025, following an initial $100 million stake purchased in 2024.

Analysts have characterized the purchases as diversification, following the same rationale behind Tether’s gold and Bitcoin holdings. Tether has described those assets as a hedge against dollar devaluation and inflation. It also intends to use the farmland’s renewable energy for Bitcoin mining.

Ardoino portrays Tether as “probably the largest owner, land owner in South America,” noting that the agribusiness runs hundreds of thousands of sheep and cattle and produces milk and rice. He framed the holding as part of the same logic driving Tether’s gold and Bitcoin positions — a hedge against systemic instability rather than a conventional investment.

“This is when we think about the stability of the world that has to come through real tangible assets,” he said, adding that Tether has to remain “a company that survived to the worst case scenario.”

Tether’s Holdings Also Include US Treasuries

Meanwhile, Tether remains one of the world’s biggest holders of US Treasuries. Its exposure stood at roughly $141 billion, as disclosed in its first-quarter 2026 attestation. That means the company bets on scarce, hard assets while still anchoring most of its balance sheet to the very currency it hedges against.

KPMG’s first full audit confirmed reserves exceeded liabilities by $6.8 billion at the end of 2025. CEO Paolo Ardoino called the result a clean audit, the strongest opinion an auditor can issue. However, Tether has not published the underlying audited statements.

Wen Tether audit? nOw.

Today Tether announces its first full financial audit for Tether International, conducted by KPMG U.S. which resulted in an unqualified clean opinion, marking the highest result possible.
An unqualified opinion is the best possible audit opinion an… pic.twitter.com/quav6uUIhy

— Paolo Ardoino 🤖 (@paoloardoino) August 13, 2026

Tether’s own June attestation, a quarterly reserve snapshot reviewed by BDO, put that same buffer at just $4.1 billion. That is a drop of roughly 40% in six months, driven largely by unrealized losses on gold and bitcoin.

Those are the very assets intended to protect Tether’s balance sheet. Farmland adds a further complication, since land cannot be sold quickly if Tether ever needs cash fast.

Whether Tether’s scarce-asset strategy ultimately strengthens its position or adds new risk remains unclear. KPMG’s full report, still unpublished, could settle that question once it reaches the public.