Tether invests $500 million in decentralised Bitcoin mining

Tether (CRYPTO:USDT), the issuer of the stablecoin USDT, has partnered with Ocean, a decentralised Bitcoin (CRYPTO:BTC) mining pool founded by Bitcoin Core developer Luke Dashjr.

This collaboration aims to bolster decentralisation in Bitcoin mining infrastructure and reduce reliance on centralised intermediaries.

Ocean’s DATUM protocol allows miners to create unique block templates while ensuring efficient performance in bandwidth-constrained environments.

Tether plans to deploy its existing and future hashrate using Ocean’s software across its global mining operations, including sites in rural areas of Africa.

“Supporting decentralisation in Bitcoin mining is essential to the network’s long-term integrity,” said Paolo Ardoino, CEO of Tether.

The partnership aligns with Tether’s broader mission to strengthen Bitcoin’s resilience and transparency.

In 2023, the company announced a $500 million investment in Bitcoin mining projects, including facilities in Uruguay, Paraguay, and El Salvador.

Currently, Uruguay is listed as one of Tether’s key mining locations among over fifteen active sites worldwide.

Tether’s involvement with Ocean reflects months of technical evaluation.

Giv Zanganeh, VP of Mining & Energy at Tether, stated that the DATUM protocol aligns closely with Bitcoin’s decentralisation ethos.

“Its architecture ensures reliable connectivity even in low-bandwidth regions,” Zanganeh added.

Ocean executives welcomed the collaboration.

Chairman Luke Dashjr emphasised that Tether’s participation underscores the importance of open and censorship-resistant mining protocols.

Mark Artymko, Ocean’s President, noted that this partnership reinforces shared values of financial inclusion and decentralisation.

Beyond mining operations, Tether has been active in promoting blockchain education and financial empowerment.

Recently, it collaborated with Quidax on a crypto literacy initiative across Nigeria and other African nations, aiming to equip millions with tools for accessing digital assets.

At the time of reporting, the Tether (USDT) price was $0.9999 and the Bitcoin (BTC) price was $85,666.60.