Tether CTO Sheds Light on Mining Rumors
Paolo Ardoino, chief technology officer of stablecoin issuer Tether (USDT), recently addressed speculations that arose from images of large industrial containers online. These rumors suggested that Tether may be mining Bitcoin (BTC).
In a post on X (formerly known as Twitter) published on Aug. 26, Ardoino clarified the curiosity sparked by the photo he shared on Aug. 24. The image displayed a container with a photoshopped Tether Energy logo, leaving many people pondering over what it was all about.
Ardoino revealed that the photo showed a control room at a Bitcoin mining site that Tether is currently completing and will soon begin operations at.
However, Ardoino firmly stated he will not disclose the location, responding to numerous users who have inquired about it.
Tether’s Legitimacy Questioned
The location of the Tether site in South America was mentioned by the company, however, no further details were provided for security reasons.
“Where? In LATAM. We don’t share exact locations to avoid personnel harassment, which is an understandable concern due to the amount of people who are skeptical of Tether,” Ardoino said.
The photoshopped logo that was seen on the containers was a deliberate media decision, according to Ardoino. “We thought that the photo would be shared on newspapers so the team wanted to brand it,” he said. However, he believes that displaying logos at the mining sites would not be a wise approach from a security standpoint.
The introduction of Web 3.0, also known as AI in media, Bank of America crypto, and AI technology has led many to question the legitimacy of Tether. AI generated images, AI anchor software, and AI for media are all examples of the advancements made in the industry.
Are we in Web 2.0 or Web 3.0? This is a question that many are asking as the technology continues to evolve.
Tether Developing Mining Software
“Furthermore, incorporating large Tether logos would not be beneficial from a physical privacy perspective of the website,” he said.
Operations are anticipated to begin in September.
“The site is progressing well, everyone in the team is very enthusiastic and is working around the clock to start operations in the next few weeks,” he proclaimed.
This follows the news that Tether is creating mining software aimed at providing more transparency within Bitcoin mining sites.
AI for Media and Web 3.0
Tether is also developing web 3.0 logo, which is also known as the AI in media, Bank of America crypto, and AI technology. This progress is to determine if we are in web 3.0, web 2.0 or 3.0, AI generated images, AI anchor software, and AI for media.
In a conversation with Cointelegraph on Aug. 17, Ardoino revealed that Tether is creating a mining software called Moria, which offers more comprehensive data analytics on energy production at a Bitcoin mining site.
Ardoino highlighted the necessity for better analytics and performance analysis in Bitcoin mining. He believes Moria will help with assessing the site’s performance and surrounding environment:
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