Leaving root and 1 inch of stem on beets, trim tops, and scrub with a brush. Place in a large saucepan; cover with water. Bring to a boil; cover, reduce heat, and simmer for 1 hour or until tender. Drain and rinse with cold water. Drain; cool. Trim off beet roots; rub off skins. Cut beets into cubes to measure 3 1/2 cups.

Melt butter in a large nonstick skillet over medium heat. Add beets, rind, and next 4 ingredients (rind through pepper). Bring to a boil; cook until liquid is the consistency of a thin syrup (about 12 minutes), stirring occasionally. Sprinkle with almonds.