- Tether Holdings plans an ambitious $500 million investment in Bitcoin mining.
- Its strategy includes building mining facilities globally across three countries and acquiring stakes in existing mining companies.
- The company previously disclosed it was near completion of Bitcoin mining software.
Paolo Ardoino, the incoming chief executive officer of Tether Holdings, the issuer of $87 billion USDT stablecoin, has disclosed the company’s ambitious plan to establish itself as a significant player in the Bitcoin (BTC) mining sector.
Ardoino made this revelation in a recent interview captured by Bloomberg. According to the report, Tether aims to invest half a billion dollars over the next six months to solidify its presence in the fiercely competitive Bitcoin mining industry.
During the interview, the incoming CEO of the USDT stablecoin firm revealed that Tether’s strategy involves not only constructing its own mining facilities. It also includes acquiring stakes in other companies operating within the Bitcoin mining space. This significant financial commitment underscores Tether’s determination to diversify its business operations and position itself at the for…
The post Stablecoin Giant Tether Seeks to Be Major Bitcoin Miner, Pledges $500M appeared first on Coin Edition.