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Planet Tether: Mining farms being created in three countries
Tether, the operator of the USDT stablecoin, plans to invest $500 million in mining equipment and companies. According to Paolo Ardoino, technical director of Tether, part of these funds will be used for a $610 million credit line for the German mining company Northern Data Group. The remaining amount will be used to build their own mining farms in different countries.
According to Ardoino, Tether is already building mining farms in Uruguay, Paraguay and El Salvador. The capacity of these farms will range from 40 to 70 MW, and the total capacity of the company's equipment will reach 120 MW by the end of the year. This will allow Tether to occupy about 1% of the total hashrate of the Bitcoin network. In the future, the company plans to increase mining operations and reach a device capacity of 450 MW by 2025.
Nevertheless, the technical director of Tether stressed that the company is in no hurry to become the largest miner in the world, as mining is a new area for them.
Tether is also considering the possibility of placing equipment at a location with a capacity of 300 MW. The farm will be placed in large containers, which will allow it to be transported quickly if necessary.
Earlier it was reported that the capitalization of the USDT stablecoin increased by $4 billion in a month.
