Is Tether becoming Bitcoin’s most influential miner?
Ask a typical Bitcoiner to name the most influential mining company, and they would almost certainly name Bitmain. The company is by far the world’s dominant mining rig manufacturer and leads a near-majority of mining pools: Antpool and its many sockpuppets. Quietly, however, stablecoin giant Tether has been increasing its influence with a variety of bitcoin miners across the globe. The stablecoin giant recently invested $100 million in Bitdeer , a publicly traded company operated by a Bitmain co-founder, and it’s also the leading investor in Blockstream , Bitcoin ’s leading development company. Funded partly by Tether, Blockstream has an operating mining division and a dedicated purchasing division that securitizes Bitmain mining rigs. Bitfinex, Tether’s sister exchange, is the trading venue for the Blockstream Mining Note. Tether has also either invested in or funded : Salvadoran bitcoin mine Volcano Energy A Bitcoin mine in Uruguay . Swan Mining , which has deployed o...