Tether, the firm behind the widely used stablecoin USDT, has announced significant plans for expansion into Bitcoin mining.
Bitcoin Mining at the Core of Company's Expansion
Tether aims to become the largest Bitcoin miner by the end of 2025. CEO Paolo Ardoino stated that this move reflects a shift from just being a stablecoin issuer to becoming a powerful player in the cryptocurrency industry.
Boosting Dollar Dominance Through Crypto
Ardoino mentioned that the company's growing presence in cryptocurrency does not weaken the dollar, but rather reinforces it. Tether sees itself as an ally to the US dollar by expanding its influence into new virtual assets.
Prospects in Commodity Trading and Wallet Expansion
Tether is not only focused on Bitcoin mining but is also attracting attention from commodity traders. Ardoino indicated that nearly all major players in commodity trading are reaching out to the company. Tether is also developing an open-source wallet that will select the cheapest network for transactions.
Tether is entering a new phase, aiming to strengthen its position in both the crypto industry and traditional financial markets. Despite current risks, the company shows a commitment to expansion and diversification.
