Tether will join the OCEAN mining pool

The company behind the USDT stablecoin, Tether, will connect its current and future Bitcoin hash rate to the OCEAN mining pool launched by Bitcoin Core developer Luke Dash Jr.

According to the statement, OCEAN allows miners to create their own block templates using the open-source DATUM protocol. The solution reduces dependence on centralized intermediaries and increases the first cryptocurrency’s blockchain resistance to censorship.

“As a company committed to financial freedom and open access, we believe that supporting decentralization in Bitcoin mining is a necessary condition for the long-term integrity of the network,” noted Tether CEO Paolo Ardoino.

The company will deploy the DATUM gateway at all its cryptocurrency mining sites, including those located in Africa.

Tether’s Vice President of Mining and Energy, Giv Zanganeh, emphasized that the protocol architecture enables reliable connectivity even in regions with low internet bandwidth. This allows for broader reach and enhances the resilience of Bitcoin’s infrastructure, the manager stated.

Dash - the junior known as an uncompromising opponent of Ordinals and BRC-20 tokens. He believes that these assets contribute to the spread of spam on the network of the first cryptocurrency. However, OCEAN left it to the users’ discretion to decide whether to process blocks with such non-financial transactions.

As part of the business reorganization in 2024, Tether has established a separate division — Tether Power, which focuses on the development of sustainable mining and energy infrastructure based on Bitcoin.

In November 2023, the company announced an investment of $500 million in the mining of the first cryptocurrency.

Tether participated in the first round of funding for the Volcano Energy project for mining digital gold in El Salvador using geothermal energy from the volcano at $1 billion. The firm also invested $100 million in Bitdeer by Jihan Wu.

Let us remind you that the establishment of a joint venture for the extraction of digital gold with the financial crypto company Swan Bitcoin ended for Tether in a court case.