Tether CEO Paolo Ardoino shared his vision that participation in bitcoin mining is not just a way to generate revenue for the company, but an important element of a strategy aimed at protecting assets and strengthening the security of the entire blockchain network!
“Tether has about 100 thousand BTC on its balance sheet. For us, this is a significant investment, and we are convinced that participation in mining is the key to protecting these funds. If you are faced with the task of investing a million dollars, the easiest way is to buy Bitcoin and wait for the price to rise. But in our case, integration into the ecosystem itself becomes a priority, “Ardoino said.
He emphasized that the company invests not only in mining, but also in a number of other areas, including Web3 technologies, artificial intelligence and related spheres. Among the examples are collaboration with Rumble video hosting and support for Adecoagro agrarian corporation.
Tether prefers not to disclose details about the capacity of its mining installations, but it is known that since 2023 the company has allocated over $2 billion for the development of cryptocurrency mining and energy infrastructure in Latin America.
To date, in Uruguay, Paraguay and Salvador, more than 15 objects are involved for this purpose. We are talking about the construction of substations, the launch of production based on renewable energy sources and participation in already working farms.
In addition, Ardoino said that closer to the end of the year, Tether plans to make the source code of his unique operating systеm for mining bitcoin – mining OS.