In a recent update from Paolo Ardoino, the Chief Technology Officer of Tether, it was revealed that Tether is in the testing phase of its new Bitcoin mining platform named Moria. The announcement, made via Ardoino’s official Twitter handle on [Date]highlighted the integration of the first containers and miners into the platform.
According to the details shared, the Moria platform has undergone significant software enhancements. All Power Distribution Unit (PDU) management and miner interactions, including settings related to frequency and power, are now entirely software-driven. This level of automation ensures that any write actions on the platform require multisig (multi-signature) approval, adding an extra layer of security.
Furthermore, Ardoino emphasizes the platform’s peer-to-peer (P2P) capabilities, stating it’s “All P2P. Perfect for #IoT.” This suggests that Moria is designed to seamlessly integrate with Internet of Things (IoT) devices, potentially revolutionizing the way mining operations interact with smart devices.
While Ardoino described the advancements as “almost magic,” it’s essential to note that the full capabilities and potential applications of the Moria platform remain to be seen as it’s still in the testing phase.
It’s worth mentioning that while Tether is primarily known for its stablecoin, this move indicates a diversification into the Bitcoin mining sector. However, as with all technological advancements, only time will tell how this development will impact the broader cryptocurrency ecosystem. Beyond its flagship product, USDT, Tether is also expanding its business into Bitcoin mining and adoption.
On August 26, 2023, as reported by Blockchain.News, Ardoino addressed growing speculation surrounding a photo showcasing a container with the “Tether Energy” logo. Confirming the photo’s authenticity, he unveiled it as a depiction of a control room at a near-completion site in Latin America. This site, under the Tether Energy venture, aims to establish global partnerships for renewable energy production and Bitcoin mining. Ardoino emphasizes the importance of geographically decentralizing Bitcoin mining, countering the current concentration in specific regions. The site is expected to commence operations in the coming weeks.
Image source: Shutterstock