Tether aims to mine BTC
According to the rumors he reported Bloombergpublisher stable coins USDT, Chainthey would plan an investment of half a billion dollars in Bitcoin mining. A move that would indicate a strong business differentiation companies, which would automatically place it among the main players in the sector.
According to what we know from these indiscretions, the funds should be distributed in the next six months, and they would be needed precisely for break free from heavy dependence on the USDT marketcreating new possibilities.
After all, throughout its history Tether has had to defend itself against criticism regarding its financial stabilityand his reputation primarily depends on the good condition of his finances, which have “strengthened” more and more over time.
Furthermore, the mining approach would lead to a of a more “sustainable” narrative compared to its main competitors, although no specific details about the technology that will be used, nor what practices will be used for its mining operations, have been revealed.
Tether’s bet on the new crypto market
If some see Tether’s initiative as an intelligent solution for the development of the sector, others see only one continued centralization of the mining industry, in the hands of fewer and fewer actors. A dynamic, in short, that would centralize the management of mining in a historical period already marked by growing centralization.
But, at least from a geographical point of view, this should not happen. Tether actually intends to build its mining farm split between Uruguay, Paraguay and El Salvadorto cover at least 1% of the hashrate of the Bitcoin network by 2025.
It remains to be seen, therefore, how this investment will affect the position of the company in relation to the crypto market. What is certain is that Tether will continue to be the protagonist of the ecosystem.