Tether exceeds his role as a publisher of Stablecoins with the CEO Paolo Ardoino, who reveals his ambition to become the biggest bitcoin by the end of this year. The purpose of this movement is not to continue profit, but to strengthen the safety of important bitcoin reserves and support the network in a wide sense.
In short
- Tether plans to become the largest Bitcoin minor in the world by the end of 2024, said the CEO of Ardoino.
- Tether made more than $ 13 billion in 2024 and competed with large traditional financial companies like Morgan Stanley.
- Tether invested $ 500 million in mining projects in several countries with other extensions plans.
To protect reserves by mining
During an interview in a podcast with the block, the CEO Paolo Ardoino explained that the decision of Tether to join Bitcoins is not motivated by financial profit. The company considers this to be a strategic step towards protecting its important bitcoin reserves. Tether currently has more than 100,000 bitcoins worth more than $ 10 billion.
Ardoino stressed that those who only seek profits would better buy bitcoins directly, rather than invested in mining infrastructure. In his view, the allocation of $ 1 million to buy Bitcoins directly brought a better return than to use the same amount for financial mining operations.
He also warned against entering the letter of the letter for mining promoters, suggesting that many high -performance promises can be misleading.
I think we have to be bitcoins because of the exhibition, it is important to be part of the network safety. Realistic, by the end of this year, Tether will become the largest Bitcoin minor.
Tether CEO, Paolo Ardoino
Larger records and investment ambitions
In 2024, Tether achieved an annual profit of more than $ 13 billion. This number puts the company in direct competition with large traditional financial institutions. Its reported income is comparable or better than Morgan Stanley, MasterCard and Citigroup in the same period.
This financial fortress enabled companies to diversify far beyond its initial role of Stablecoin issuer. In recent years, Tether has invested in several sectors, including artificial intelligence, energy infrastructure, telecommunications and now bitcoin mining.
Tether has launched more than $ 2 million in several countries in various mining and energy projects. The company funds the development of renewable energy sources and new electrical wiring to support mining operations. She also captured less participation in several mining companies active in these regions.
Its entry into this sector began at the end of 2023, when it assigned $ 500 million to the first phase of a much larger investment program. Although Tether has not yet published his current mining or computing power, his financial obligations reflect the firm intention of developing operations.
What else will join
Tether is growing outside stablecoins with new digital payments tools and invasion of professional sport. It develops portfolio technology with an open source code with regard to the integration of machines and at the same time strengthens the connection with the large European football club.
- Tether creates a set of tools for portfolio with an open source code to support new digital payments systems.
- The portfolio with multiple holes that is designed to choose the least expensive network for transactions is developing.
- The portfolio will support emerging markets and use people like AI piloted machines.
- Portfolio technology without customers is designed to operate on devices from economic phones to intelligent machines.
- In February, Tether invested EUR 128 million in Juventus and became the second largest shareholder in the club.
- The company now wishes the headquarters to the Juventus board and plans to modernize operations with AI and Blockchain.
Tether, along with some of the largest minors, will join the Bitcoin mining. Companies such as Digital Holdings Marathon, Cleanspark, Iris Energy, Riot Platforms and Core Scientific are currently dominated by mining power measured in tests per second (Eh/s). The total computing power of the bitcoin network is estimated to be approximately 810 Eh/s. The challenge for Tether will increase its mining capacity and carve a fixed place between these established actors.
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IFOLOWA specializes in writing and marketing Web3, with more than 5 years of experience in creating bright and strategic content. In addition, it trades in crypt and is qualified in performing technical, basic and chains.
Renunciation
The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.
(Tagstotranslate) Tether stablecoins