Bitcoin’s Resurgence Amid Recent Developments

The leading cryptocurrency Bitcoin (BTC) is on the rise again, buoyed by FED Chairman Jerome Powell’s interest rate cut statements and news of a ceasefire between Iran and Israel.

Currently, BTC’s price has surpassed $108,000, prompting bold statements from Tether CEO Paolo Ardoino. According to The Block, he claimed that Tether could become the largest BTC mining company by the end of the year.

In a recent appearance on the Big Brain podcast, Ardoino stated that Tether holds over 100,000 BTC and emphasized that the company’s Bitcoin mining operations are crucial for securing investments. He mentioned that Tether made approximately $13 billion in profit from mining in 2024 with a team of fewer than 200 people, asserting that mining is important for securing Bitcoin investments rather than for profit alone.

Ardoino stressed that Tether’s mining operations are strategically important in securing its $10 billion Bitcoin investment. He noted the following:

> “I think if you have $1 million and have to decide whether to invest it in Bitcoin mining or buying Bitcoin outright, it’s clear that you’re always going to make more money buying Bitcoin outright. But in our case, given our exposure to Bitcoin, it’s important to be part of the security of the network. Realistically, by the end of this year, Tether will be the largest bitcoin miner in the market.”

Tether has made significant strides in Bitcoin mining, investing over $2 billion in energy production and mining infrastructure across 15 sites in Uruguay, Paraguay, and El Salvador since 2023.

This is not investment advice.