Tether CEO “Will become the world's largest bitcoin mining company by the end of this year”

Tether expanding mining business (Source: The Block)

Tether, the issuer of stablecoin USDT, CEO Paolo Ardoino stated, "By the end of this year, Tether could become the world's largest Bitcoin mining company." He mentioned this on The Block's podcast, expressing a strong will to expand the mining business.

Ardoino explained, "Tether currently holds 100,000 Bitcoins and is heavily exposed to Bitcoin, so it is essential to participate directly in mining to strengthen the network's security."

Tether has secured 15 mining bases in South America, including Uruguay and Paraguay, since 2023, and has invested over $2 billion in this business. Based on this, they are rapidly expanding the mining hash rate, and the market is paying attention to the potential impact of Tether's mining business expansion on the Bitcoin ecosystem in the future.