Stablecoin company Tether is broadening its reach in the cryptocurrency mining industry by joining forces with Swan's Managed Bitcoin Mining service. This collaboration signifies a major expansion in Tether's operational scope, with a significant amount of capital dedicated to kickstarting Bitcoin mining activities through Swan.

Swan's service is tailored exclusively for institutional investors who must commit a minimum of $100 million. They are striving to reshape the mining ecosystem to meet the specific needs of their clients. Swan has been actively investing in boosting its mining capacity, aiming to reach 100 EH by 2026 after investing over $330 million since August 2023.

Tether's CEO, Paolo Ardoino, hailed the partnership and commended Swan for its commitment to transparency and operational excellence. Tether plans to invest approximately $500 million in mining operations and currently holds a considerable position in the Bitcoin market as the seventh-largest BTC holder globally, with about 75,354 BTC valued at around $5.23 billion.

Despite a decline in BTC mining revenue post-halving, new protocols like Ordinal Inscriptions and Runes have introduced fresh dynamics into the industry. This has improved miners' revenue streams, particularly through transaction fees, now accounting for over 7% of their total income. The CEO of CryptoQuant, Ki Young Ju, highlighted the significant impact of these applications on revenue streams, indicating a positive shift in the network's fundamentals going forward.