Tether is positioning himself to claim first place in the Bitcoin mining race by the end of the year

Tether goes beyond his role as a stablecoin issuer, with the CEO Paolo Ardoino who reveals his ambitions to become the biggest Bitcoin minor by the end of this year. This movement is not intended to continue profits, but to strengthen the safety of the important Bitcoin reserves of Tether and to support the network in the broad sense.

Protect reserves by mining

During a conversation in podcast with The Block, CEO Paolo Ardoino explained that Tether's decision to enter Bitcoin's mining is not motivated by a financial gain. The company sees it rather as a strategic step to protect its important Bitcoin reservations. Tether currently has more than 100,000 bitcoins, worth more than $ 10 billion.

Ardoino stressed that those looking for only profit would better buy Bitcoin directly, rather than investing in the mining infrastructure. In his opinion, allocating $ 1 million to buy Bitcoin directly produces a better return than using the same amount to finance mining operations.

He also warned against taking the claims of the statements at the foot of the letter Mining promoterssuggesting that a lot of high promise of yields can be misleading.

I think that given the exhibition we have to Bitcoin, it is important to be part of the security of the network. Realistic, by the end of this year, Tether will become the largest Bitcoin minor.

CEO of Tether, Paolo Ardoino

Larger record records and investment ambitions

In 2024, Tether made an annual profit of more than $ 13 billion. This figure places the company in direct competition with large traditional financial institutions. Its reported income is comparable or superior to those of Morgan Stanley, Mastercard and Citigroup over the same period.

This financial solidity has enabled the company to diversify far beyond its initial role as a stablecoin issuer. In recent years, Tether has invested in several sectors, including artificial intelligence, energy infrastructure, telecommunications, and now, Bitcoin's mining.

Tether has started more than $ 2 million in various mining and energy projects in several countries. The company finances the development of renewable energy sources and new electrical substations to support mining operations. She also took smaller participations in several mining companies active in these regions.

Its entry into this sector began at the end of 2023, when it allocated $ 500 million to the first phase of a much larger investment program. Although Tether has not yet disclosed its current mining production or its computing power, its financial commitments reflect a firm intention to develop operations.

What else does Tether

Tether is growing beyond stablecoins with new tools for digital payments and a foray into professional sport. It develops an open source portfolio technology with the integration of machines in mind, while strengthening links with a large European football club.

• Tether builds an open source portfolio tool kit to support new digital payment systems.
• A multi -hole portfolio is being developed, designed to choose the least expensive network for transactions.
• The portfolio will support emerging markets and will be used by people as by the machines piloted by AI.
• Non-custodial portfolio technology is designed to operate on devices ranging from economic phones to smart machines.
• Tether invested 128 million euros in Juventus in February, becoming the second largest shareholder in the club.
• The company now wishes a headquarters to the Board of Directors of Juventus and plans to modernize operations with AI and Blockchain.

By entering Bitcoin's mining, Tether will join a competitive sector alongside some of the largest minors. Companies such as Digital Holdings Marathon, Cleanspark, Iris Energy, Riot Platforms and Core Scientific currently dominate the mining power, measured in exams per second (EH/S). The total computing power of the Bitcoin network is estimated at around 810 EH/S. The challenge to Tether will be to increase his mining capacity and to carve out a solid place among these established actors.