Is tether planning a large-scale expansion into bitcoin mining?

Tether is planning a large-scale expansion into Bitcoin ( BTC) mining, according to Paolo Ardoino, who is expected to take the helm at the company soon. The stablecoin firm may spend around $500 million in the next six months on the construction of mining facilities and investments in other miners, Ardoino told Bloomberg in an interview.

Will tether reach 1% of BTC mining computing power?

Tether has ambitions to reach 1% of BTC mining computing power under new CEO Paolo Ardoino. New facilities in South America will be part of the push. Tether is planning a large-scale expansion into Bitcoin ( BTC) mining, according to Paolo Ardoino, who is expected to take the helm at the company soon.

Will tether be a significant competitor in the bitcoin space?

The $87 billion stablecoin operator has large coffers that could make it a significant competitor in the space. Tether will construct its own bitcoin mining facilities and also take stakes in existing companies. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview