TETHER PLANS MAJOR EXPANSION INTO BTC MINING WITH $500M INVESTMENT

Summary from the TLDR Crypto newsletter

Tether, the firm behind USDT, is investing around $500 million to bring a Bitcoin mining facility online, according to incoming CEO Paolo Ardoino. The ambitious expansion includes the construction of new mining facilities in Uruguay, Paraguay, and El Salvador, aiming to work up to 1% of BTC mining's total computing power. Tether also plans to increase its direct mining operations to 120 MW by year-end, reaching up to 450 MW by 2025's end.