Tether steigt ins Mining-Game ein: Will der Stablecoin-Gigant jetzt Corporate Miner verdrängen?

Tether wirft seinen Hut in den Bitcoin-Mining-Ring – und stellt damit etablierte Player in den Schatten. Der Stablecoin-Primus deutet massive Expansion in die Branche an, während institutionelle Miner mit fallenden Margen kämpfen.

Die Machtverschiebung könnte den Markt auf den Kopf stellen. Während Corporate Miner teure Infrastruktur und Aktionärserwartungen managen müssen, agiert Tether mit der Flexibilität (und den Reserven) eines Krypto-Urgesteins. Ein klassischer Fall von 'adapt or die' – zumindest für die Börsennotierten.

Bonus-Zynismus: Während traditionelle Miner ihre Quartalszahlen schönen, baut Tether einfach sein Imperium aus – ganz ohne lästige SEC-Anfragen.

Tether hints at competing with corporate miners

Tether may expand its mining influence at a time when the Bitcoin network is working at a record hashrate, and remains profitable for most participants. 

The Bitcoin network hashrate recently fell to a six-month low, sinking back to around 700 EH/s. This WOULD translate into a lower network difficulty and easier competition for miners. The easier mining arrives at a time when BTC managed to recover above $107,000, making block production still profitable for most pools. 

The Bitcoin hashrate fell from its recent peak, making the network more accessible to miners. | Source: Bitbo

There are a few remaining miners with solo operations, as even big data centers often add their hashrate to pools. Some of the biggest operations include Mara Holdings, CleanSpark, IREN, Core Scientific, and others. Tether itself has not reported the exact hashrate or share of mining operations. 

Unlike corporate miners, Tether has also not positioned itself as a BTC treasury company, despite its vast holdings accrued over the years. Tether also denied rumors of going public or tying its stock price to BTC holdings. 

Earlier this year, Tether shared that it intends to set aside another $500M for mining activity. Tether also stated it would point most of its mining capacity at Ocean Pool, a relatively small operation with 9.61 EH/s. 

So far, Tether has only contributed a part of the pool’s hashrate, and there are no signs the company holds enough capacity to surpass giant operations like Mara Holdings with over 57 EH/s. Tether’s known wallets also rarely show BTC inflows, especially those identifiable as originating with mining pools. 

Ocean Pool aims to offer zero-fee access, as well as direct decentralized payments for all participants. If Tether is indeed serious about becoming a leading miner, the pool’s hashrate may reflect the expansion.

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