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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    The Future of Gambling: How Casino Sites Are Leveraging Web3

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    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

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    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

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    Experience to Earn: Everdome’s Metaverse Frontier

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    Official Hyperliquid NFTs Hit All-Time High of $65,000 on OTC Desks

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    NFTs Weekly Sales Surge 24% to $142M, Guild of Guardians & Immutable Dominate in Sales

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    NFT sales pump 37% to $144.8m, Immutable dethrones Ethereum

    Pudgy Penguins Joins Lufthansa for Real Travel Rewards

    Pudgy Penguins Joins Lufthansa for Real Travel Rewards

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    Solsniper Closes NFT Marketplace After 3.5 Years, Shifts Focus to Trading Bot Development

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    Ethereum Token Platform Zora Sues Deloitte Over AI Trademark Dispute

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    OpenSea sunsets ‘Deals,’ other features in OS2 shakeup

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    Animoca Brands partners with Cross the Ages to support the launch of blockchain game

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    Doodles NFT Sticker Launch on Telegram Sells Out in 24 Hours

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    A16z-backed Spekter Games founder shares Telegram gaming ethos

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    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

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    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

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    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

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    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

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    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

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    UAE emirate launches new free zone for digital assets, Web3 and AI

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    A Step-by-Step Guide for Beginners

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    Long and Short Positions in Crypto Explained for Beginners

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    What Is Fully Diluted Valuation (FDV) in Crypto?

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    What Does FUD Mean in Crypto? The Fear, Uncertainty, and Doubt Effect

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    What Is Crypto Staking? How to Earn Crypto by Holding It

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    What Are Liquidity Pools? A Guide to DeFi Explained Simply

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    What Is Yield Farming in Crypto? A Beginner’s Guide to DeFi Income

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    What Is Asset Tokenization? Types, Why It Matters Now [2025]

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    Key Innovations, Challenges, and What Comes Next

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    SEC Chair Gary Gensler Standing in the Way of Bitcoin ETFs, Says ARK Invest’s Cathie Wood

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    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    Enhancing Security in Online Gambling with Blockchain Technology

    Enhancing Security in Online Gambling with Blockchain Technology

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

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    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

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    Experience to Earn: Everdome’s Metaverse Frontier

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    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

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    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

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    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

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    Meta Cancels Next-Gen Headset Amidst Changing Market Landscape

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    Carrieverse and Disney Ink Content Deal

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    SYKY Bridges Digital and Physical Fashion with Apple Vision Pro

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    Official Hyperliquid NFTs Hit All-Time High of $65,000 on OTC Desks

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    NFTs Weekly Sales Surge 24% to $142M, Guild of Guardians & Immutable Dominate in Sales

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    Animoca Brands partners with Cross the Ages to support the launch of blockchain game

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    Civitas Migrates to Immutable zkEVM to Power Low-Cost, Scalable Web3 Gaming & Web3 Network Growth

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    Crypto Casinos Made Over $80 Billion in 2024

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  • Blockchain
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    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

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    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

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    Polyhedra Network launches Proof Cloud in open beta

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    SoonVerse Partners with Arris to Enhance User Experience

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    Metaplex Deploys Product Suite on Sonic SVM, Enhancing Solana’s Gaming Ecosystem

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  • AI
    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

    ETH Daddy Discusses Ethereum and AI

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    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

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  • Guides
    What Does DCA Mean in Crypto? A Simple Breakdown – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

    A Step-by-Step Guide for Beginners

    Long and Short Positions in Crypto Explained for Beginners

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    What Are Liquidity Pools? A Guide to DeFi Explained Simply

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    What Is Yield Farming in Crypto? A Beginner’s Guide to DeFi Income

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    What Is Asset Tokenization? Types, Why It Matters Now [2025]

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    Key Innovations, Challenges, and What Comes Next

  • Analysis
    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

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    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

    Dogecoin Bull run

    Here’s What Could Trigger the Next Dogecoin (DOGE) Bull Run, According to Crypto Strategist

    Benjamin Cowen Warns Majority of Altcoins Will Never See New All-Time Highs Again Amid ‘Serious Declines’

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    SEC Chair Gary Gensler Standing in the Way of Bitcoin ETFs, Says ARK Invest’s Cathie Wood

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    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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Home Mining

Tether plans $500M investment into Bitcoin mining operations

November 16, 2023
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From Subsidies to Shutdowns: Norway Moves to Restrict Bitcoin Mining

Norway eyes crypto mining ban amid local firms’ heavy investments in Bitcoin

In a significant diversification of its core business of managing the USDT stablecoin, Tether Holdings Ltd. is pivoting a portion of its operations toward Bitcoin (BTC) mining.

As reported by Bloomberg, Tether plans to invest approximately half a billion dollars over the next six months, a move that could significantly alter the dynamics of the highly competitive sector.

Financial position

Tether’s venture into Bitcoin mining is underpinned by its formidable financial strength, according to its Q3 attestation report, which revealed Tether has amassed a surplus of around $3.2 billion in cash. This fiscal surplus enables the company to undertake such a substantial investment, comprising part of a $610 million credit facility extended to Bitcoin mining company Northern Data AG.

Tether is constructing mining facilities in Uruguay, Paraguay, and El Salvador, with each site’s capacity ranging between 40 and 70 megawatts. Paolo Ardoino, Tether’s incoming chief executive, expressed a commitment to scaling their share of the total computing power for the Bitcoin network to 1%. While this target sets Tether on a path to becoming one of the world’s top 20 Bitcoin mining companies, it also underscores the depth of investment and ambition driving this new venture.

Tether’s entry into Bitcoin mining occurs at a delicate time, with notable players like Compute North and Core Scientific having recently filed for bankruptcy.  Tether’s strategy of setting up mobile mining facilities suggests it plans for agility in adapting to fluctuating energy costs and market conditions. As such, the stablecoin giant could emerge as a powerful force within the sector.

See also  What Is a Bitcoin ETF, and Why Does Everyone from Blackrock to Grayscale Want One?

Still, Tether faces significant challenges in the crypto-mining landscape. With increasing competition and thinning profit margins, coupled with the impending Bitcoin halving expected to slash mining revenues next year, the company’s venture is not without risks. Moreover, mining difficulty has reached historic highs, demanding substantial computing power for profitability, a challenge even for financially robust entities like Tether.

Tags: 500MBitcoininvestmentMiningOperationsplansTether

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