Tether is building Bitcoin mines in Uruguay, Paraguay and El Salvador, Ardoino said, with the capacity for each site ranging between 40 and 70 megawatts. Its target is to grow its share of the total computing power to run the Bitcoin network to 1%, Ardoino said, declining to specify a timeframe for meeting that goal.
Will a bitcoin halving reduce mining revenue next year?
Increasing competition means thinning profit margins, and an upcoming update to Bitcoin’s code known as the halving is set to reduce mining revenue drastically next year.
Are bitcoin miners preparing for a liquidity crunch?
Bitcoin miners have been cash-strapped since digital-asset prices plunged last year, pushing a number of players to warn of a liquidity crunch. Two of the largest crypto-mining companies, Compute North and Core Scientific, filed for bankruptcy. Meanwhile, opportunities in debt financing have all but dried out.
