Tether CTO Conceals Location of Bitcoin Mining Site
On August 24, the chief technology officer at Tether, Paolo Ardoino, shared on his X account an image with large containers holding the issuer’s logo of the largest stablecoin by market capitalization. The photo shared by the executive created speculation among the X community. Some X users argued that Tether planned to extend its offering to Bitcoin.
Tether Launching Bitcoin Mining Facility
On the X thread, some of the users demanded to know more about the image. Commenting on this, the CTO stated that the image was captured from Tether’s Bitcoin mining facility, which is currently under development.
The executive confirmed that Tether plans to launch the Bitcoin mining site soon. News concerning the opening of the mining facility exhilarated the Tether community. One of the X users requested Ardoino to provide additional details concerning the mining site, including the location.
The executive stated that the site is in Southern America but did not disclose the exact location. He restated that the mining facility will be based in LATAM. In his response, the executive failed to provide further information concerning the Bitcoin mining site to prevent harassment and security concerns.
He admitted that his response would create skepticism among the Tether Community. The executive noted that some X users were dissatisfied with his response. Most of the X users demanded to know the address and zip code of the mining site.
Tether Fails to Disclose Location of Mining Site
Elsewhere, some of the X users expressed concerns about the photoshopped logo attached to the containers. The CTO silenced the doubters by arguing that the photoshopped image was a decision made by the media.
The executive admitted that the image should have been shared in the newspaper before branding. Ardoino noted that displaying logos on the mining facility was not wise due to security concerns. Also, showing a large banner of the Tether logo on the site could create physical privacy concerns.
The executive announced that the Bitcoin mining site might begin operation next month. Ardoino praised the team behind the new mining site for demonstrating their commitment towards the project.
He stated that the project team has been working around the clock to ensure the site is ready in a couple of weeks. Ardoino’s report came when the stablecoin issuer had revealed plans to debut a mining software “moria” to improve transparency in mining Bitcoins.
The CTO shared detailed information concerning project Moria, which will support data analysis on energy production on the mining sites. Ardoino argued that Bitcoin mining lacks proper analytical tools to optimize mining and maximize output. He added that Project Moria will play a crucial role in assessing the performance of the mining site and the environment.
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