Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain
  • Web 3
    • NFT
    • Metaverse
  • Regulation
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

XRP is confronted with pressure in the midst of Bitcoin -Liquidity Crunch – will $ 3 be within reach?

2025-05-17

Billionaire Warren Buffett dumps $ 3,230,000,000 from Berkshire’s exposure to Citigroup, Bank of America and Capital One after leaving Wells Fargo, JPMorgan Chase

2025-05-17

Bitcoin ETF allocations fall in Q1 – Is institutional trust fade?

2025-05-17
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
Facebook X (Twitter) Instagram
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain

    Rideshare Company Lyft taps bee cards for decentralized mapping data

    2025-05-17

    British Museum puts sculptures from Dürer’s ‘Rhinoceros’ on Bitcoin Blockchain

    2025-05-16

    DAC platform and M3 DAO partner to bridge web3 and real-world ecosystems

    2025-05-16

    Hoskinson of Cardano rejects crypto -tribalism, reveals new details about massive ‘glacier drop’

    2025-05-16

    The new limit of reliable and scalable artificial intelligence

    2025-05-16
  • Web 3
    • NFT
    • Metaverse
  • Regulation

    US senators make potential progress on Stablecoin bill in the midst of partisan negotiations: report

    2025-05-16

    American chairman Jerome Powell warns of future inflation, says that the economy could introduce a period of more frequent supply shocks

    2025-05-16

    Chainlink praises the guidelines of SEC and sets the stage for crypto integration in institutional finances

    2025-05-16

    Revised Genie Stablecoin Bill to Senate, Bars Big Tech from publishing tokens

    2025-05-16

    Coinbase confirms that the SEC Sun from Biden era on ‘verified users’ is still ongoing

    2025-05-15
  • Analysis

    Billionaire Warren Buffett dumps $ 3,230,000,000 from Berkshire’s exposure to Citigroup, Bank of America and Capital One after leaving Wells Fargo, JPMorgan Chase

    2025-05-17

    Crypto heats up, $ 35 billion comes into the market in less than a month

    2025-05-17

    Analyst says that Top-20 Altcoin is ready to explode with 85%+ ultimately, Outlook works on Bitcoin and Dogwifhat at

    2025-05-16

    Bitcoin -price looks up – does the next leg be higher?

    2025-05-16

    Webull Pay joins forces with leading American Exchange Coinbase to Power Crypto Services

    2025-05-16
  • Learn

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15

    What Is Proof-of-Work (PoW)?

    2025-05-12

    What Is Proof-of-Authority (PoA)?

    2025-05-09
  • Blog
  • Contact
    • Tech7685@gmail.com
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Altcoins»Stablecoin Publisher Tether to Enter Bitcoin Mining: Bloomberg
Altcoins

Stablecoin Publisher Tether to Enter Bitcoin Mining: Bloomberg

2023-11-17No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

contributor

Posted: November 17, 2023

  • Tether wants to build mining facilities in key locations including Uruguay, Paraguay and El Salvador.
  • The stablecoin giant has strategically chosen the locations for its mining facilities to maximize efficiency.

Tether [USDT] has set its sights on a major expansion Bitcoin [BTC] mining, targeting an investment of approximately $500 million over the next six months.

Paolo Ardoino, who will soon take the helm at Tether, unveiled the company’s ambitious plan in a interview with Bloomberg.

The details

The stable currency Giant wants to build mining facilities in key locations including Uruguay, Paraguay and El Salvador. This is in an effort to increase its computing power to 1% of the Bitcoin mining network.

The stablecoin giant has strategically chosen the locations for its mining facilities to maximize efficiency and ensure optimal performance.

Ardoino outlined the company’s vision to build mining facilities in selected countries with a capacity ranging from 40 to 70 megawatts (MW).

The $500 million investment plan also included financing German miner Northern Data Group. Tether previously announced a $610 million debt financing facility for Northern Data Group earlier this month.

Ardoino said the company aims to reach 120 MW of computing power by the end of the year.

Looking ahead, Tether has even more ambitious goals. It plans to reach a computing power of up to 450 MW by the end of 2025.

The stablecoin company is also considering adaptability and flexibility in its mining operations. It explored the possibility of setting up facilities in containers that could be moved based on fluctuations in electricity prices.

See also  Bitcoin Miners Accumulate: A Bullish Sign 119 Days After BTC Halving?

Miners are rushing to book profits before the next halving

In the wake of Bitcoin’s recent surge, miners have seized the opportunity to capitalize on the rally and race against the clock before the upcoming ‘halving’ in April 2024.

Despite the surge in mining activity, the profitability of mining, an energy-intensive process, is still lagging behind its peak in 2021. Profits per unit of computing power have risen from $70 to over $81 since early November.

However, according to mining data platform Hashrate Index, this remains below the peak of $127 seen in May.

The previous two halvings in 2012 and 2016 were followed by substantial price increases for Bitcoin, providing impetus for miners to navigate the coming reduction in rewards.

Source link

Bitcoin Bloomberg enter mining Publisher Stablecoin Tether
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

XRP is confronted with pressure in the midst of Bitcoin -Liquidity Crunch – will $ 3 be within reach?

2025-05-17

Bitcoin ETF allocations fall in Q1 – Is institutional trust fade?

2025-05-17

Bitcoin hits $ 103k, but long-term holders still not convinced?

2025-05-17

These five cryptos could steal Bitcoin’s attention because they will focus on 16,900% rallies next year

2025-05-17
Add A Comment

Comments are closed.

Top Posts

Cardano (ADA) under pressure: struggling to regain lost ground

2025-01-14

Crypto expert Arthur Hayes reveals why Bitcoin Price will hit $ 110,000 for $ 76,500

2025-03-25

Goldman Sachs reports more than $ 2 billion to Bitcoin exposure via ETFs

2025-02-11
Editors Picks

BNB Price Approaching $305: What Does the Forecast Say?

2023-12-27

Liquid Strike’s $20 Billion Rise Amid Market Uncertainty

2023-09-05

Shiba Inu Rival Dogecoin Is Gearing Up for a ‘Significant Price Spike,’ Says Crypto Analyst – Here’s Why

2023-11-23

Binance’s SEC Motion on ‘Misleading Language’ Denied

2023-06-27

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

XRP is confronted with pressure in the midst of Bitcoin -Liquidity Crunch – will $ 3 be within reach?

Billionaire Warren Buffett dumps $ 3,230,000,000 from Berkshire’s exposure to Citigroup, Bank of America and Capital One after leaving Wells Fargo, JPMorgan Chase

Bitcoin ETF allocations fall in Q1 – Is institutional trust fade?

Get Informed

Subscribe to Updates

Get the latest news and Update from Bitcoin Platform about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
© 2025 Bitcoinplatform.com - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$103,540.25-0.28%
  • ethereumEthereum(ETH)$2,495.29-3.96%
  • tetherTether USDt(USDT)$1.000.01%
  • rippleXRP(XRP)$2.38-1.11%
  • binancecoinBNB(BNB)$644.38-1.84%
  • solanaSolana(SOL)$168.85-1.89%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • dogecoinDogecoin(DOGE)$0.217205-3.67%
  • cardanoCardano(ADA)$0.77-0.78%
  • tronTRON(TRX)$0.269718-1.96%
  • suiSui(SUI)$3.81-1.77%
  • chainlinkChainlink(LINK)$15.43-5.56%
  • avalanche-2Avalanche(AVAX)$22.82-3.79%
  • stellarStellar(XLM)$0.290747-2.38%
  • hyperliquidHyperliquid(HYPE)$26.940.50%
  • shiba-inuShiba Inu(SHIB)$0.000014-4.59%
  • unus-sed-leoUNUS SED LEO(LEO)$8.930.93%
  • hedera-hashgraphHedera(HBAR)$0.193839-2.85%
  • bitcoin-cashBitcoin Cash(BCH)$395.31-1.34%
  • the-open-networkToncoin(TON)$3.08-1.60%
  • litecoinLitecoin(LTC)$100.961.14%
  • polkadotPolkadot(DOT)$4.73-2.92%
  • moneroMonero(XMR)$336.21-1.71%
  • bitget-tokenBitget Token(BGB)$5.04-0.04%
  • daiDai(DAI)$1.000.01%
  • pepePepe(PEPE)$0.000012-7.50%
  • ethena-usdeEthena USDe(USDE)$1.000.03%
  • piPi(PI)$0.69-21.43%
  • uniswapUniswap(UNI)$5.91-6.58%
  • bittensorBittensor(TAO)$420.14-4.46%
  • aaveAave(AAVE)$226.33-4.64%
  • nearNEAR Protocol(NEAR)$2.78-4.87%
  • aptosAptos(APT)$5.12-4.68%
  • okbOKB(OKB)$53.16-1.50%
  • kaspaKaspa(KAS)$0.115166-2.95%
  • ondo-financeOndo(ONDO)$0.92-6.62%
  • internet-computerInternet Computer(ICP)$5.23-4.69%
  • ethereum-classicEthereum Classic(ETC)$18.29-4.64%
  • gatechain-tokenGateToken(GT)$21.52-0.89%
  • crypto-com-chainCronos(CRO)$0.099002-1.84%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.43-3.41%
  • mantleMantle(MNT)$0.73-2.56%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.232525-3.83%
  • vechainVeChain(VET)$0.027955-5.23%
  • render-tokenRender(RENDER)$4.58-6.22%
  • ethenaEthena(ENA)$0.378519-0.40%
  • usd1World Liberty Financial USD(USD1)$1.000.04%
  • algorandAlgorand(ALGO)$0.219825-3.68%
  • filecoinFilecoin(FIL)$2.82-5.26%
  • cosmosCosmos(ATOM)$4.76-3.75%
  • bitcoinBitcoin(BTC)$103,540.25-0.28%
  • ethereumEthereum(ETH)$2,495.29-3.96%
  • tetherTether USDt(USDT)$1.000.01%
  • rippleXRP(XRP)$2.38-1.11%
  • binancecoinBNB(BNB)$644.38-1.84%
  • solanaSolana(SOL)$168.85-1.89%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • dogecoinDogecoin(DOGE)$0.217205-3.67%
  • cardanoCardano(ADA)$0.77-0.78%
  • tronTRON(TRX)$0.269718-1.96%
  • suiSui(SUI)$3.81-1.77%
  • chainlinkChainlink(LINK)$15.43-5.56%
  • avalanche-2Avalanche(AVAX)$22.82-3.79%
  • stellarStellar(XLM)$0.290747-2.38%
  • hyperliquidHyperliquid(HYPE)$26.940.50%
  • shiba-inuShiba Inu(SHIB)$0.000014-4.59%
  • unus-sed-leoUNUS SED LEO(LEO)$8.930.93%
  • hedera-hashgraphHedera(HBAR)$0.193839-2.85%
  • bitcoin-cashBitcoin Cash(BCH)$395.31-1.34%
  • the-open-networkToncoin(TON)$3.08-1.60%
  • litecoinLitecoin(LTC)$100.961.14%
  • polkadotPolkadot(DOT)$4.73-2.92%
  • moneroMonero(XMR)$336.21-1.71%
  • bitget-tokenBitget Token(BGB)$5.04-0.04%
  • daiDai(DAI)$1.000.01%
  • pepePepe(PEPE)$0.000012-7.50%
  • ethena-usdeEthena USDe(USDE)$1.000.03%
  • piPi(PI)$0.69-21.43%
  • uniswapUniswap(UNI)$5.91-6.58%
  • bittensorBittensor(TAO)$420.14-4.46%
  • aaveAave(AAVE)$226.33-4.64%
  • nearNEAR Protocol(NEAR)$2.78-4.87%
  • aptosAptos(APT)$5.12-4.68%
  • okbOKB(OKB)$53.16-1.50%
  • kaspaKaspa(KAS)$0.115166-2.95%
  • ondo-financeOndo(ONDO)$0.92-6.62%
  • internet-computerInternet Computer(ICP)$5.23-4.69%
  • ethereum-classicEthereum Classic(ETC)$18.29-4.64%
  • gatechain-tokenGateToken(GT)$21.52-0.89%
  • crypto-com-chainCronos(CRO)$0.099002-1.84%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.43-3.41%
  • mantleMantle(MNT)$0.73-2.56%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.232525-3.83%
  • vechainVeChain(VET)$0.027955-5.23%
  • render-tokenRender(RENDER)$4.58-6.22%
  • ethenaEthena(ENA)$0.378519-0.40%
  • usd1World Liberty Financial USD(USD1)$1.000.04%
  • algorandAlgorand(ALGO)$0.219825-3.68%
  • filecoinFilecoin(FIL)$2.82-5.26%
  • cosmosCosmos(ATOM)$4.76-3.75%