Paolo Ardoino: Tether Tests New Bitcoin Mining Platform, Moria, with Enhanced Software Control

In a recent update from Paolo Ardoino, the Chief Technology Officer of Tether, it was revealed that Tether is in the testing phase of its new Bitcoin mining platform named Moria. The announcement, made via Ardoino’s official Twitter handle on [Date], highlighted the integration of the first containers and miners into the platform.

According to the details shared, the Moria platform has undergone significant software enhancements. All Power Distribution Unit (PDU) management and miner interactions, including settings related to frequency and power, are now entirely software-driven. This level of automation ensures that any write actions on the platform necessitate multisig (multi-signature) approval, adding an extra layer of security.

Furthermore, Ardoino emphasized the platform’s peer-to-peer (P2P) capabilities, stating it’s “All P2P. Perfect for #IoT.” This suggests that Moria is designed to seamlessly integrate with Internet of Things (IoT) devices, potentially revolutionizing the way mining operations interact with smart devices.

While Ardoino described the advancements as “almost magic,” it’s essential to note that the full capabilities and potential applications of the Moria platform remain to be seen as it’s still in the testing phase.

It’s worth mentioning that while Tether is primarily known for its stablecoin, this move indicates a diversification into the Bitcoin mining sector. However, as with all technological advancements, only time will tell how this development will impact the broader cryptocurrency ecosystem. Beyond its flagship product, USDT, Tether is also expanding its business into Bitcoin mining and adoption.

On August 26, 2023, as reported by Blockchain.News, Ardoino addressed growing speculation surrounding a photo showcasing a container with the “Tether Energy” logo. Confirming the photo’s authenticity, he unveiled it as a depiction of a control room at a nearing-completion site in Latin America. This site, under the Tether Energy venture, aims to establish global partnerships for renewable energy production and Bitcoin mining. Ardoino emphasized the importance of geographically decentralizing Bitcoin mining, countering the current concentration in specific regions. The site is expected to commence operations in the coming weeks.

Earlier, on August 5, 2023, Ardoino shared insights into Tether’s development endeavors. The team is nearing the completion of advanced JavaScript libraries designed to interact with various cryptocurrency miners. These libraries, described as “really high-quality stuff,” will play a pivotal role in the Moria mining farm orchestration tool. This tool, based on technology from, where Ardoino also serves as a co-founder and Chief Strategy Officer, facilitates the creation of peer-to-peer (P2P) programs without servers. Ardoino hinted at the tool’s potential expansion to monitor energy production, reflecting the increasing emphasis on energy efficiency in crypto mining.

Disclaimer & Copyright Notice: The content of this article is for informational purposes only and is not intended as financial advice. Always consult with a professional before making any financial decisions. This material is the exclusive property of Blockchain.News. Unauthorized use, duplication, or distribution without express permission is prohibited. Proper credit and direction to the original content are required for any permitted use.

Image source: Shutterstock


Tagged : / / / / /

Paolo Ardoino: Tether Ranks 22nd in US Treasury Holdings, Surpassing Mexico, Australia, and Spain

Tether, USDT issuer, the leading stablecoin in global circulation, now holds $72.5 billion in U.S. Treasury bills, positioning it as the world’s 22nd largest holder. This development coincides with China’s accelerated divestment from U.S. debt, which has seen a reduction of nearly $481 billion from its peak levels. The contrasting strategies highlight the evolving dynamics of global finance and raise questions about the stability of emerging markets.

Tether’s Growing Exposure to U.S. Treasuries

Paolo Ardoino, CTO of Tether and Bitfinex, announced on September 5, 2023, that Tether’s holdings in U.S. Treasury bills have reached $72.5 billion. (Read Exclusive Article contributed by Tether CTO to Blockchain.News)

This places the stablecoin issuer above sovereign nations like the United Arab Emirates, Mexico, Australia, and Spain in terms of U.S. Treasury holdings.

For many of these communities, USDt is a lifeline to protect themselves and their families from the insane inflation of their national currencies,

Ardoino tweeted.

China’s Accelerating Exit from U.S. Debt

In contrast, China’s ownership of U.S. Treasury debt has seen a significant reduction. According to Wall Street Silver, China’s holdings are down almost $481 billion from peak levels, and the rate of selling is accelerating. “You can see how the line is steepening. China is getting out of U.S. debt and buying Gold instead,” the financial commentary platform noted.

Emerging Markets and Financial Stability

The diverging strategies of Tether and China have elicited mixed reactions. Suraj Chawla of GPU.NET questioned the long-term stability of relying on Tether’s U.S. Treasury holdings as a “financial lifeline” for emerging markets.

Propping up economies on shaky grounds creates a facade of stability, not true resilience,

Chawla stated.

BeastOnChain, a crypto analytics platform, offered a different perspective.

This actually highlights the expansion of emerging markets into the Real World Assets (RWA) and the need for a diversified, borderless approach to help people worldwide engage in these emerging markets,

the platform tweeted.

Implications for Global Finance

The expanding U.S. Treasury portfolio of Tether and China’s accelerated shedding of U.S. debt both highlight evolving trends in international finance. Tether’s role as a financial “lifeline” for emerging markets comes with increased scrutiny regarding the long-term stability of these economies, given its substantial investment in U.S. Treasuries. Conversely, China’s pivot from U.S. debt to gold indicates a strategic realignment of its financial holdings, a move that could have implications for the global economic power structure.


As Tether climbs the ranks of global U.S. Treasury holders, its role in emerging markets becomes increasingly significant. However, questions about the stability of these markets persist. Meanwhile, China’s accelerated exit from U.S. debt could have far-reaching implications for global finance. 

Image source: Shutterstock


Tagged : / / / / / /

Tether’s Bitcoin Mining Site in Latin America Plans to Start Operations in a Few Weeks

In response to growing speculation surrounding a recently posted photo, Paolo Ardoino, CTO of Tether and Bitfinex, took to Twitter to clarify matters. The image in question showcased a container bearing the “Tether Energy” logo, leading to a myriad of questions and theories. Some tabloids questioned the site’s authenticity, while others speculated if Ardoino had digitally superimposed the logo onto the container.

Ardoino confirmed the photo’s authenticity, revealing it as a depiction of one of the control rooms at a site nearing its completion phase in Latin America. The exact location remains undisclosed to safeguard personnel from potential harassment, especially given the heightened scrutiny Tether often finds itself under.

Tether Energy (TE) represents a new venture by Tether, aiming to establish global partnerships with local entities. The primary objective of these collaborations is to provide capital, infrastructure support, development, and expertise, all in a bid to set up renewable energy production and Bitcoin mining sites. Ardoino stressed the significance of decentralizing Bitcoin mining geographically to counteract the current concentration in specific regions.

Addressing the logo’s placement on the container, Ardoino explained that the team had anticipated the photo’s widespread media coverage and wanted to brand it for that purpose. However, he also noted that using oversized Tether logos could potentially compromise the site’s physical privacy.

Ardoino’s tweet further highlighted the site’s ongoing progress, with the team gearing up to kickstart operations in the upcoming weeks. He also shared a 3D design of the mining site, offering followers an insight into its projected appearance in the near future.

Image source: Shutterstock


Tagged : / / / /

Tether’s Development Team Nears Completion of Advanced Mining Libraries

In a recent tweet on August 5, 2023, Paolo Ardoino, the Chief Technology Officer (CTO) of Tether and Bitfinex, revealed that Tether’s development team is on the verge of completing a set of “well polished” JavaScript libraries. These libraries are designed to command and interact with various types of cryptocurrency miners, including WhatsMiners, AntMiners, and Avalon Miners.

Ardoino described the libraries as “really high-quality stuff,” emphasizing their super modularity and high level of polish. He also shared that he is personally involved in coding the core architecture of Tether’s Moria mining farm orchestration tool, which is based on the technology from, a company where Ardoino also serves as a co-founder and Chief Strategy Officer (CSO).

Without the need of servers, peer-to-peer (P2P) programmes may be made using the platform. It offers a number of compact JavaScript modules that may be coupled to build different P2P applications, ranging from VPNs to communication tools. Additionally, without the requirement for operations management, the platform provides tools for distributing programmes to any user on any platform. Users just need to download the portions of the software that have changed since the last update, making updates quick and efficient. Additionally, as the user base expands, peers who download the applications also re-host them for new peers, boosting the app’s network.

The CTO further hinted at the potential expansion of the tool to cover energy production monitoring, reflecting the growing importance of energy efficiency in cryptocurrency mining operations. This move could potentially provide miners with valuable insights into their energy consumption patterns, enabling them to optimize their operations for better sustainability.

In a forward-looking statement, Ardoino suggested that parts of the new technology might eventually be open-sourced. If realized, this could contribute to the broader cryptocurrency community by providing developers and miners with access to advanced tools and libraries.

As of now, the exact timeline for the completion and release of these libraries is not specified. However, given the advanced stage of development mentioned in Ardoino’s tweet, the crypto community can expect further updates in the near future.    

Image source: Shutterstock


Tagged : / / / / /

Tether CTO Asserts $XAUT as the Digital Resurgence of the Gold Standard

Paolo Ardoino, Tether’s CTO, recently discussed the role of Tether Gold ($XAUT), Bitcoin, and gold in the evolving economic landscape. Ardoino emphasized the similar characteristics shared by Bitcoin and gold, namely their limited supply and the complexity of extraction. However, he pointed out gold’s physical limitations, such as weight and the need for secure storage, which inspired Tether’s creation of $XAUT.

He clarified that $XAUT, a digital token backed 100% by physical gold, isn’t competing with Bitcoin but offers an alternative to traditional fiat money. Despite Bitcoin’s unique properties, he acknowledged that its understanding remains a challenge for many. Tether is thus committed to the long-term project of Bitcoin education.

Ardoino portrayed $XAUT as an accessible first step towards moving away from fiat money and into the digital paradigm. He also revealed the growing recognition of $XAUT, with a market cap of ~$500 million, global trading support, and potential adoption by banks as an inflation hedge. He concluded by stating that Tether Gold is effectively resurrecting the gold standard in a digitized form.


Tagged : / / / / / /

Tether CTO Paolo Ardoino Dispels USDT Market Fear Amidst Rising Deposits in Curve 3Pool

Paolo Ardoino, CTO of Tether and Bitfinex, has responded to growing fears in the crypto market with an assertive tweet stating, “Markets are edgy in these days, so it’s easy for attackers to capitalize on this general sentiment. But at Tether we’re ready as always. Let them come. We’re ready to redeem any amount.” The statement seems to address recent speculations and rumors (FUD – Fear, Uncertainty, and Doubt) circulating around increased deposits of Tether’s stablecoin USDT into the Curve 3Pool.

An analyst using the Twitter handle ‘Fortitude’ had raised concerns about the sudden increase in USDT deposits into the Curve 3Pool. “Why is USDT being deposited into the Curve 3Pool in such great quantities? Now the percentage is 50%, up from 30% just 48h ago. Do they know something we don’t?” questioned Fortitude.

The commentator went on to suggest that such sharp spikes in asset deposits often precede significant market events, citing examples of the USDT depeg in May 2022 in relation to Luna/Terra, the FTX incident in November 2022, and the USDC depegging in March 2023. The analyst expressed hope that the increased USDT deposits were a “nothingburger”, while maintaining an interest in the ensuing developments.

USDT has a longstanding history of being a focal point for FUD within the cryptocurrency space. Critics frequently express skepticism towards the stablecoin’s peg to the US dollar, and rumors of insolvency have circulated in the past. Tether has consistently refuted these claims, maintaining that every USDT token is fully backed by reserves.

In response to the concerns, Ardoino’s tweet portrays a confident stance, emphasizing Tether’s preparedness to handle any potential market turbulence. By asserting that Tether is ready to “redeem any amount,” Ardoino implies the company’s robust reserve position, seeking to quell anxieties surrounding its solvency and the stability of USDT.

This public response from Tether’s CTO is part of an ongoing effort by the company to address concerns and maintain transparency in its operations. The rapidly evolving cryptocurrency landscape continues to prompt companies like Tether to stay proactive in dispelling market fears and ensuring stability for their users.


Tagged : / / / / / / / / /

Tether USD₮ Sets New Record Cementing Its Status as the Top Stablecoin for Global Financial Freedom

Tether, the leading blockchain-enabled platform behind the widely used stablecoin, USD₮, has achieved a significant milestone by surpassing its previous all-time high market cap of $83.2 billion, which was set in May 2022. The company’s Chief Technical Officer, Paolo Ardoino, attributes this achievement to the growing demand for financial freedom and the trust that customers have placed in Tether.

Ardoino stated, “Today’s numbers demonstrate that people want access to financial freedom, and when given that access, they will make use of it.” He emphasized Tether’s role in providing a safe haven for the unbanked and enabling individuals in emerging markets to preserve their buying power, even in the face of currency devaluation. Tether’s resilience in volatile markets and its commitment to transparency have earned the trust of customers, resulting in its current success. The company aims to expand access to financial freedom globally, with a particular focus on emerging markets.

Since its establishment in October 2014, Tether has solidified its position as the leading stablecoin and a trailblazer in financial freedom and innovation. The USD₮ stablecoin has become the most traded cryptocurrency, surpassing all competing offerings combined. Tether combines the advantages of digital currency, such as instant global transactions, with the stability of traditional currency. By prioritizing transparency and compliance, Tether provides a fast and cost-effective method for conducting financial transactions.

Tether’s recent attestation further underscores its commitment to transparency and highlights its efforts in emerging markets as a refuge from volatile markets. The company’s impressive performance in the first quarter, reporting a net profit of $1.48 billion, has significantly strengthened its reserves. With approximately 85% of its investments in cash, cash equivalents, and short-term deposits, along with a 20% increase in token supply quarter over quarter and excess reserves of around 2.5 billion, Tether has firmly established itself as a trustworthy entity with a positive outlook for the future.

Tether remains dedicated to providing financial freedom and innovation to users worldwide, especially in emerging markets. As a trusted stablecoin, Tether continues to lead in transparency, resilience, and accessibility, offering a secure and stable digital currency option for individuals globally.


Tagged : / / /

Tether Ventures into Sustainable Energy Production and Bitcoin Mining in Renewable-Rich Uruguay

Tether, the company renowned for powering the world’s foremost stablecoin, announced today its ambitious venture into energy production and sustainable Bitcoin mining in Uruguay. The company is expanding its portfolio to include the energy sector, signaling its firm commitment towards energy innovation and the future of cryptocurrency.

This initiative will be implemented in collaboration with a local licensed company in Uruguay. This strategic decision underpins Tether’s aspiration to be a global tech leader, extending its influence beyond the realms of finance and communication.

In light of this announcement, Tether is recruiting experts in the energy sector to bolster its team. The company’s endeavor into renewable energy sources aims to support sustainable Bitcoin mining, thereby contributing towards a secure and robust monetary network globally.

Paolo Ardoino, CTO of Tether, emphasized Tether’s dedication to sustainable practices. He stated, “By harnessing the power of Bitcoin and Uruguay’s renewable energy capabilities, Tether is leading the way in sustainable and responsible Bitcoin mining. Our unwavering commitment to renewable energy ensures that every Bitcoin we mine leaves a minimal ecological footprint while upholding the security and integrity of the Bitcoin network.”

Uruguay, with 94% of its electricity generation from renewable sources such as wind and solar power, offers ideal conditions for this endeavor. The country’s abundant natural resources allow for the establishment of renewable energy infrastructures like wind farms, solar parks, and hydropower projects, guaranteeing a constant supply of clean and environmentally friendly energy.

Capitalizing on Uruguay’s robust energy infrastructure, Tether has found the perfect platform for its Bitcoin mining operations. The reliable grid system, capable of meeting modern industrial demands, ensures Tether’s operations will be both efficient and sustainable.

This latest venture represents a significant milestone where energy and cryptocurrency merge, affirming Tether’s role as a trailblazer at the forefront of technology, sustainable practices, and financial innovation.


Tagged : / / / /

Tether Says Will Not Block Tornado Cash until it is Directed by Authorities

The broader cryptocurrency industry is subtly pushing back against the sanctions on Tornado Cash by the United States Treasury Department for facilitating the transaction of illicit funds.


In a new report by the Washington Post, USDT issuer, Tether has affirmed it will not be blockchain addresses linked to Tornado Cash unless explicitly asked to do so by the government.

Prior to seeking confirmation from Tether’s CTO Paolo Ardoino about its stance on blocking addresses linked to Tornado Cash, The Washington Post’s report was based on Dune Analytics data which shows Tether Holdings has not taken any actions against these wallet addresses.

“Tether has not been contacted by U.S. officials or law enforcement with a request” to freeze transactions with Tornado Cash, Ardoino said in a statement, adding that the company “normally complies with requests from U.S. authorities.”

Industry experts believe Tether may be in violation of the broader Office of Foreign Assets Control’s (OFAC) sanctions. While the embargo on Tornado Cash actually prohibits U.S. businesses or individuals from transacting using the crypto mixer, non-US companies that do business with Americans are also indirectly banned from aiding the operations of the smart contract-controlled platform.

The ban, in general, has been viewed through different lenses, one of which pushed Congressman Rep Tom Emmer to inquire from Treasury Secretary Janet Yellen why a piece of technology that cannot defend itself was sanctioned. 

While many industry analysts see defiance, Ardoino said the company, known for crossing paths with regulators over the shares on regulatory affairs, is in constant touch with the regulators and often complies with their requests.

“We have been cooperating on various freezes with U.S. law enforcement, including in the last two weeks after the OFAC public disclosure about Tornado Cash, and no specific request has been put to us related to freezing relevant Tornado Cash addresses,” he said.

It is yet to be seen whether OFAC will make the private request to halt transactions originating from Tornado Cash. Still, from current events, more clarity may be given on how private companies are required to cooperate with the sanctions.

Image source: Shutterstock


Tagged : / / / /

CBDCs Will Not Change the Role of Stablecoins, Says Tether CTO

With the International Monetary Fund (IMF) data showing about 110 countries around the world are currently developing their own Central Bank Digital Currency (CBDC), the subject has garnered a lot of thoughts from experts in the cryptocurrency ecosystem, one of them is Tether CTO- Paolo Ardoino.


Speaking on Twitter, the Tether boss said the efforts by Central Banks around the world to float CBDC trails the pioneering move that the company made about 8 years ago when USDT, the world’s first and largest stablecoin was created. He noted that the current financial system is highly digitized, however, with a number of prominent flaws.


Source: Twitter of Paolo Ardoino

According to Ardoino, the tech upon which today’s traditional money was built came into use about 30 years ago, hence notably outdated. Noting that besides the fact that the technology “is not standardised at capillary level, it also requires an enormous amount of “maintenance with enormous costs.”

In its Twitter thread, Paolo acknowledged that CBDCs will go mainstream and will possibly replace SWIFT and other legacy payment systems, however, he said the technology will not be able to change the role of stablecoins in the grande scheme of things.

“CDBC will replace SWIFT etc., banks will accept transfers via CBDCs as any wire. CBDCs will settle most of credit/debit card flow, especially over the weekend,” he said, “CBDCs will use private blockchain as modern and cost-controlled tech infrastructure. CBDCs won’t be issued on your favourite chain, private stablecoins will continue to serve that use case.”

Countries developing a CBDC solution with pronounced progress include China whose public trials saw the much-anticipated e-CNY currency being used for transactions at the just-concluded Beijing Olympics Games. Besides China, the Central Bank of the Bahamas, and the Central Bank of Nigeria are recognized as the two nations that have launched a functional CBDC to date.

Image source: Shutterstock


Tagged : / / /
Bitcoin (BTC) $ 26,167.01 1.62%
Ethereum (ETH) $ 1,576.47 1.17%
Litecoin (LTC) $ 64.41 0.44%
Bitcoin Cash (BCH) $ 208.22 0.02%