tl;dr
Tether is increasing its involvement in Bitcoin mining amid market volatility, acquiring a 21% stake in mining firm Bitdeer and planning to deploy its hashrate on OCEAN, a decentralized mining pool, to improve operations, especially in underserved regions like rural Africa. This aligns with Tether’s...
Tether has increased its stake in Bitcoin mining firm Bitdeer to 21%, investing during a market downturn to strengthen its position in the mining industry.
Tether plans to deploy hashrate on OCEAN, a decentralized mining pool, to optimize operations and support underserved regions, aligning with its mission to promote decentralization.
The company is investing in Fizen Limited to enhance blockchain infrastructure for self-custody wallets and streamline stablecoin use across multiple networks.
Amid market volatility, Tether is deepening its involvement in Bitcoin mining by acquiring a significant stake in Bitdeer and planning to deploy hashrate through OCEAN, aiming to improve operations, especially in underserved regions like rural Africa.
This approach contrasts with other Bitcoin mining firms pressured to liquidate assets; instead, Tether champions decentralization and financial freedom.
According to a recent filing, Tether capitalized on a dip in Bitdeer’s stock price to boost its mining sector presence.
The company will implement OCEAN’s DATUM Gateway technology worldwide to optimize low-latency connections and create unique block templates onsite, enhancing competitiveness and supporting the development of digital infrastructure and education in Africa.
Tether CEO Paolo Ardoino emphasized the importance of supporting decentralization to maintain Bitcoin network integrity and described deploying hashrate to OCEAN as aligned with Tether’s broader mission against centralizing forces.
In addition, Tether’s investment in Fizen Limited focuses on advancing blockchain infrastructure to enable smoother stablecoin integration and improve user experiences by reducing complexity and barriers in crypto transactions.