Tether aims to become the world leader in Bitcoin mining

While traditional investing in Bitcoin, according to Ardoino, is often more profitable than mining, for Tether it is more important to maintain the security of the blockchain network. The company owns more than 100 thousand BTC, which is currently valued at over $10 billion. Therefore, according to Ardoino, participation in mining is not just an investment, but a contribution to the sustainability and decentralization of the network.

Tether began actively buying Bitcoin in 2022, and since May 2023, it has officially adopted a strategy according to which 15% of quarterly profits are spent on purchasing cryptocurrency. Although the company does not publish information about the capacity of its equipment, it is known that since 2023, more than $2 billion has been invested in mining and energy in Latin American countries.

In Uruguay, Paraguay and El Salvador, Tether is developing 15 infrastructure projects. These include the construction of substations, the introduction of renewable energy facilities and participation in existing mining farms.

Currently, the leaders among public mining companies by hashrate are MARA (57.3 EH/s), CleanSpark (50 EH/s), IREN (38.4 EH/s), Riot (33.7 EH/s) and Core Scientific (19.1 EH/s). Despite the lack of specific data on Tether, the company is confident that it can bypass these competitors in the coming months.

In the spring of 2024, Tether presented an updated development strategy, where mining was designated as one of the key areas. The company invested in projects with a capacity of 40 to 70 MW, and also invested $ 150 million in Bitdeer, a major player in the mining industry.

In addition to cryptocurrency mining, Tether also finances the development of artificial intelligence technologies, biotechnology, and financial infrastructure for developing countries, seeking to diversify and strengthen its influence in related industries.