In recent days, Bitcoin (BTC) has shown a steady increase, driven by recent statements from FED Chairman Jerome Powell regarding interest rate changes and news of a ceasefire between Iran and Israel.
Bitcoin on the Rise
The Bitcoin price has surpassed $108,000. These changes in the cryptocurrency market have become noticeable against the backdrop of economic news and the anticipated stabilization of the global situation.
Statements from Tether CEO
Tether CEO Paolo Ardoino stated on the Big Brain podcast that the company could become the largest Bitcoin mining company by the end of the year. He also noted that Tether holds over 100,000 BTC, and that mining operations play a key role in securing investments.
Tether's Investments in Mining
Ardoino mentioned that the company made approximately $13 billion in profit from mining in 2024, with a team of fewer than 200 people. He emphasized that mining is important for securing Tether’s Bitcoin reserves, noting the company has invested over $2 billion in energy production and mining infrastructure at 15 sites in Uruguay, Paraguay, and El Salvador since 2023.
Tether's CEO's statements highlight the strategic importance of mining for the company, while Bitcoin's rise continues to attract investor attention amidst stability and new economic realities.
