Tether CTO Clears Air on Mysterious Mining Site, Announces New Software for Transparency

Paolo Ardoino, the CTO of Tether, recently set the record straight on a cryptic photo sparking speculations about the stablecoin issuer mining Bitcoin. Posted on Aug. 24, the image showcased a container with a photoshopped Tether Energy logo, causing a buzz among crypto enthusiasts. In a follow-up post, Ardoino revealed that the container is part of a control room at a soon-to-open Bitcoin mining site owned by Tether, according to cointelegraph.

However, Ardoino kept the site’s location under wraps, citing security concerns. He only divulged that it’s somewhere in South America. “We tend not to share exact locations to avoid personnel harassment,” he stated, acknowledging the wave of skeptics this secrecy has attracted. Yet, the secrecy doesn’t stop at just the mining site. Ardoino also clarified the photoshopped Tether logo on the container was a calculated media strategy. “We thought the photo would make headlines,” he said.

Amidst the cloud of secrecy and curiosity, Ardoino also shed light on a new development. Tether is launching a mining software called Moria aimed at boosting transparency within the Bitcoin mining industry. Developed in-house, Moria will provide comprehensive data analytics on energy production at Bitcoin mining sites. The software intends to address the need for better analytics and performance review in the sector. For instance, if a mining site uses renewable energy like wind or solar, Moria can help optimize production based on weather predictions.

As September approaches, Tether‘s team is bustling with anticipation. “Everyone is working around the clock to start operations in the next few weeks,” Ardoino confirmed. Given the secrecy shrouding Tether‘s new mining operations and the promise of increased transparency through Moria, the crypto community will be keeping a close eye on how these projects unfold.

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