Regarding the Sites of Bitcoin Mining, the Tether CTO Remained Quiet

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Last Updated on August 27, 2023 by Bitfinsider

Chief Technology Officer of stablecoin issuer Tether, Paolo Ardoino, lately found himself responding to rumours about pictures of enormous industrial containers that surfaced online, rejecting inquiries about where Tether is mining Bitcoin.

In a post on X (formerly Twitter) on August 26, Ardoino addressed the questions raised by the image he posted on August 24. Many people were confused by the image, which showed a canister with a modified Tether Energy logo.

He clarified that the image is a control room at a Tether Bitcoin mining facility that is presently being finished and would shortly start producing Bitcoin.

In response to multiple individuals who have asked about the location, Ardoino strongly claimed he would not reveal it. He did state that the location of the site is somewhere in South America, but for security purposes, he withheld more information.

“Where? In LATAM. We tend to not share exact locations to avoid personnel harassment, a valid concern given the amount of detractors obsessed with Tether,” he said, acknowledging that this has caused many Tether sceptics to doubt the validity of the service. He added: “You can almost hear some of them screaming: ‘NOOOOOOOO if you don’t tell us the address, zip code, surname of the cow that is eating the grass nearby, then it’s not real!!!!!” 

He explained that it was a purposeful media decision to those who had questions about the photoshopped logo that appeared on the containers.

The team intended to brand the image since they believed it would be shared on newspapers, according to Ardoino. However, he argues that from a security perspective, having logos displayed at the mining sites would not be a prudent move:

Furthermore, from the perspective of the site’s physical privacy, putting enormous Tether branding there wouldn’t be great. He expects business to get going sometime in September.

“The site is progressing well, everyone in the team is super excited and working around the clock to start operations in the next few weeks,” he said.

This follows reports that Tether is creating mining software with the goal of increasing openness inside the Bitcoin mining sector.

According to an interview with Ardoino on August 17, Tether is developing a mining programme named Moria that offers more thorough data analyses on the energy generation at Bitcoin mining facilities.

Better analytics and performance evaluation in Bitcoin mining are required, according to Ardoino. He thinks Moria will help in assessing the effectiveness of the facility and its surroundings: “If energy used by the mining site is wind or solar, there are optimization parameters, like predicted speed of wind for a specific day or a specific hour of the day, that could be used to overclock some of the miners and boost the production.”

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