Tether, the company behind the world’s largest stablecoin USDT, is setting ambitious goals to become the biggest Bitcoin miner in the world by the end of 2025, according to CEO Paolo Ardoino. The statement, made during a recent interview, highlights the firm’s aggressive pivot from stablecoin issuance to strategic investments in energy and mining infrastructure.
Strategic Bitcoin Mining: Not Just for Profits
With over 100,000 BTC already in its holdings—worth more than $10 billion—Tether’s move into mining is less about short-term profitability and more about network security and asset protection. Ardoino explained that owning such a significant stake in Bitcoin creates a responsibility to support and secure the blockchain’s infrastructure.
“If you have $1 million and must choose between mining or buying bitcoin, buying bitcoin directly will make you more money. But in our case, it’s about securing our exposure,” Ardoino said.
Massive Investments and Global Expansion
Since 2023, Tether has poured over $2 billion into mining and energy production infrastructure across Uruguay, Paraguay, and El Salvador. These efforts include:
- Construction of new energy substations
- Investment in renewable energy sources
- Minority stakes in existing mining farms
The company’s initial $500 million commitment was just the beginning of a multi-billion-dollar strategy to scale its mining operations globally.
Competitive Landscape: Can Tether Overtake the Leaders?
Current top Bitcoin miners by hashrate include:
- Marathon Digital (MARA) – 57.3 EH/s
- CleanSpark – 50 EH/s
- Iris Energy (IREN) – 38.4 EH/s
- Riot Platforms – 33.7 EH/s
- Core Scientific – 19.1 EH/s
By comparison, the total Bitcoin network hashrate is around 810 EH/s, meaning Tether would need to deploy tens of exahashes per second to claim the top spot. While exact hashrate data for Tether is not yet public, the scale of investment and infrastructure expansion suggests the firm is serious about reaching this goal.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.