Tether Holdings Ltd, the issuer of United States Dollar-pegged stablecoin USDT has drawn out a 3-year mega plan for its Bitcoin mining venture, a move that includes investing $500 million into the sector until 2025.
Tether Bitcoin Mining to Gobble in $500M
In a recent development, Tether has made certain giant strides toward becoming one of the world’s top Bitcoin mining companies. For a highly competitive industry like BTC mining, Tether’s $500 million is a significant investment that could push the $87 billion stablecoin operator to reasonable heights within the next six months.
According to Tether’s newly appointed CEO and former CTO Paolo Ardoino, the funds will be directed towards the construction of its crypto mining sites and also in the purchase of stakes in other companies.
“We are committed to being part of the Bitcoin mining ecosystem,” Ardoino highlighted. “When it comes to the expansions, building new substations and new sites, we are taking them extremely s
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