Biggest Stablecoin Issuer Tether Now Wants to Become a Major Bitcoin Miner
- Tether to invest about $500 million in the next six months
- Stablecoin issuer builds its own facilities in three countries
Paolo Ardoino.
Photographer: Camilo Freedman/BloombergThis article is for subscribers only.
Tether Holdings Ltd. is taking steps to become one of the world’s top Bitcoin miners, as the $87 billion stablecoin operator makes a hefty investment in the already highly competitive sector.
The company plans to spend about half a billion dollars over the next six months, its incoming chief executive Paolo Ardoino said in an interview, both through constructing its own mining facilities and by taking stakes in other companies.