Tether will be the largest Bitcoin miner by the end of the year. With the U.S. government tightening the screws through the new GENIUS Act, Tether’s CEO Paolo Ardoino is aiming to flip the script entirely.
From stablecoins to mining mogul, this is one helluva power move.
Big dreams
The GENIUS Act, fresh off the Senate floor, demands stablecoin issuers play by some serious rules, full reserve backing, strict AML/KYC checks, and crystal-clear transparency.
Tether’s got a deadline, 18 to 36 months to get in line or risk getting the boot from the U.S. market.
But Paolo? He’s optimistic. He sees this law as a chance to set a global compliance standard, not just for USDT but for a shiny new U.S.-friendly stablecoin they’re cooking up.
On a Bankless podcast, Paolo spilled the beans, and said Tether is pouring billions into Bitcoin mining, not just dabbling but going all-in.
Why? Because with over $10 billion in Bitcoin holdings, they want to protect their turf.
Think of it like a mafia family guarding its territory, if you control the mining, you control the game. Paolo confidently said they got big dreams.
“By the end of this year, Tether will be the biggest Bitcoin miner out there.”
The Latam connection
Tether’s not alone in this mining race. Giants like Marathon Digital and Riot Platforms are already in the ring.
But Tether’s secret sauce? Partnerships with Latin American governments, El Salvador, Paraguay, Uruguay, giving them over 15 mining facilities and counting.
They’re quietly building an empire, though the exact slice of Bitcoin’s total mining power they hold? Still a mystery.
And don’t think Tether’s just about making money. They’ve been playing nice with law enforcement, helping freeze illicit funds using blockchain tech, working with over 250 agencies worldwide. That’s street cred in the crypto world.
Tough call
So, Tether’s got a choice, overhaul USDT to meet U.S. rules, launch a new compliant stablecoin, or pack up and leave the American market.
Rivals like USDC and RLUSD are circling, ready to pounce on any slip-up. Tough call.
Either way, Tether’s no longer just the stablecoin boss. They’re betting big on Bitcoin’s future, staking their claim as a mining player.
Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Kriptoworld.com accepts no liability for any errors in the articles or for any financial loss resulting from incorrect information.
