HKAN | Jul 9

Paolo Ardoino, CEO of Tether (issuer of USDT), announced on the Bankless podcast that the company is on track to become “the biggest Bitcoin miner out there” by year-end. This bold claim builds on Tether’s extensive infrastructure investments and mining strategy .

How Tether Is Getting There

**$2+ billion invested** in mining infrastructure since 2023, with over 15 mining sites across Latin America including Uruguay, Paraguay, and El Salvador .

Partnerships with Latin American governments and energy firms help scale hash rate .

Plans to open-source Mining OS in Q4 2025 to facilitate broader mining activity .

Strategic Rationale

Ardoino emphasized that mining is about securing Tether’s substantial BTC balance (over 100,000 BTC) and protecting network integrity:

“Given the exposure that we have to bitcoin, it’s important to be part of the security of the network. Realistically, by the end of this year, Tether will become the biggest bitcoin miner out there.”

He also noted rising on-chain fee revenue could compensate for declining block rewards as Bitcoin evolves .

What This Means for the Industry

Hash rate dominance: If Tether succeeds, it will rival established miners like Marathon, Riot, and CleanSpark.

Decentralization boost: Tether’s presence across regions helps distribute mining power.

Mining evolution: With Mining OS open-source, smaller players gain access to advanced tools—potentially changing the competitive landscape.

Final Take

Tether’s push to become the world’s top Bitcoin miner is a strategic bid to safeguard its BTC reserves and reinforce the network. With billions invested and a bold timeline, the move could reshape the mining hierarchy and accelerate infrastructure innovation.