Investing in Bitcoin before mining, Tether leads the stablecoin market and diversifies further

The stablecoin issuer Tether has been making frequent moves recently. In May, it announced its latest reserve strategy, which involves allocating up to 15% of its realized operating income to purchase Bitcoin. Now, it has also announced its entry into the Bitcoin mining industry, partnering with licensed local companies in Uruguay to launch sustainable Bitcoin mining operations in South America.

Tether is Flush with Cash, Decides to Diversify

According to the latest disclosure from Tether, the shareholder equity buffer, which represents the difference between assets and liabilities, is $24.4 billion, indicating the cumulative profits made by Tether in recent years. In addition to its leading market share, profits have been steadily increasing, with a reported profit of $14.8 billion in just the first quarter of this year. With plenty of cash on hand, Tether has also officially entered the Bitcoin mining business.

Last week, Tether CTO Paolo Ardoino mentioned in an interview on "The Scoop" podcast:

The beauty of Tether's next-stage plan is that we can start diversifying from pure stablecoin products and become a more comprehensive technology provider, offering expertise in many key areas such as energy, communications, and financial infrastructure.

Uruguay's Abundant Resources Make It a Top Collaboration Choice

According to Tether's website, Uruguay in South America derives 94% of its electricity from renewable sources. With its abundant natural resources, Uruguay provides ideal conditions for producing renewable energy, promoting the construction of wind farms, solar parks, and hydroelectric projects. This ensures a stable supply of clean and environmentally friendly energy, making it an ideal environment for Tether's energy-intensive Bitcoin mining operations.

Tether is also actively recruiting on its website, including bilingual recruiters, on-site managers, and technical personnel in information, power, and mechanical fields.

Tether CTO Paolo Ardoino stated:

By harnessing the power of Bitcoin and Uruguay's renewable energy capabilities, Tether can maintain a sustainable and responsible leadership position in the Bitcoin mining business!