TL;DR
- Tether CEO Paolo Ardoino anticipates that the company will become the world’s largest Bitcoin miner before the end of 2025.
- With over 100,000 BTC in reserves and more than $2 billion invested in mining and renewable energy, Tether aims to strengthen the network underlying its core exposure.
- The strategy prioritizes long-term security over immediate returns, thus driving a more decentralized infrastructure.
Tether’s ambitions in bitcoin mining are growing bolder. CEO Paolo Ardoino recently stated that the company is on track to become the largest bitcoin miner globally by the end of 2025. This assertion follows an aggressive expansion campaign across Latin America and comes as the firm continues to integrate infrastructure into its core operations.
Despite operating with fewer than 200 employees, Tether generated approximately $13 billion in profit during 2024. A sizable portion of those earnings has been redirected into emerging sectors such as artificial intelligence, telecommunications, and, most notably, bitcoin mining. Tether currently holds more than 100,000 BTC, representing over $10 billion in exposure to the asset.
Strategic Expansion Across Latin America
Since 2023, Tether has invested over $2 billion into mining and energy infrastructure across 15 active sites in Uruguay, Paraguay, and El Salvador. These include investments in renewable power plants, custom substations, and equity stakes in existing mining companies. An initial $500 million outlay in late 2023 laid the groundwork for a multi-year expansion plan still in motion. Although Tether hasn’t disclosed its current hashrate, the scale and pace of its buildout hint at serious ambitions and long-term resilience.
By comparison, major mining players like Marathon Digital (57.3 EH/s), CleanSpark (50 EH/s), and Riot Platforms (33.7 EH/s) dominate the current landscape. The total Bitcoin network hashrate hovers near 810 EH/s. Whether Tether can surpass these players remains to be seen, but their capital allocation shows determination to compete.
Security Over Speculation And Exposure Management
Ardoino emphasized that Tether’s mining push isn’t primarily about maximizing profits. Instead, it’s about aligning the company’s operations with the stability of the Bitcoin network.
“If you’re in it for quick returns, it’s better to buy BTC directly,” he said. “But when you hold as much as we do, securing the network becomes part of your responsibility.”
Beyond mining, Ardoino describes Tether’s broader mission as focused on four pillars: stable money, energy, communication, and intelligence. Bitcoin mining, in this view, is not just infrastructure, it’s a foundation for resilient systems that can support open financial networks well into the future.
