Stablecoin Giant Tether Seeks to Be Major Bitcoin Miner, Pledges $500M

Coin Edition
Coin Edition

19 Nov 2023 8:32 AM

Stablecoin giant Tether plans to invest $500 million in Bitcoin mining over the next six months, becoming a major player in the industry....

  • Tether Holdings plans to invest $500 million in Bitcoin mining to establish itself as a major player in the industry.
  • The strategy includes building mining facilities globally and acquiring stakes in existing mining companies.
  • Tether aims to diversify its business operations and extend its influence beyond stablecoin issuance.
  • The company previously disclosed its development of mining software and hinted at upcoming expansions.

The article highlights Tether Holdings' ambitious plan to invest $500 million in Bitcoin mining, indicating a positive sentiment towards the company's strategy to establish itself in the industry.

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