Tether’s CTO Paolo Ardoino announces the testing of Moria, a Bitcoin mining platform with automation and IoT integration, signaling Tether’s expansion into mining.
Key Points
- Tether CTO Paolo Ardoino announces the testing phase of Moria, a new Bitcoin mining platform.
- The Moria platform is designed to be fully automated and integrated with IoT devices.
- Tether expands its horizon beyond stablecoins, venturing into the Bitcoin mining sector and renewable energy projects.
In a recent update from Paolo Ardoino, the Chief Technology Officer of Tether, it has been unveiled that Tether is currently in the testing phase of its new Bitcoin mining platform, Moria.
The announcement was made through Ardoino’s official Twitter handle on [Date], where he emphasized the integration of the first containers and miners into the platform.
According to the details shared by Ardoino, significant software enhancements have been implemented in the Moria platform.
All Power Distribution Unit (PDU) management and miner interactions, including settings related to frequency and power, are now completely software-driven.
This automation ensures that any write actions on the platform require multisig approval, providing an extra layer of security.
Testing @Tether_to Moria #bitcoin mining platform with first containers and miners.
All PDU management, interaction with miners (set frequency, power, etc) is now fully controlled by the software.
All write actions require multisig approval.
All P2P. Perfect for #IoT .
It’s…— Paolo Ardoino 🍐 (@paoloardoino) September 16, 2023
Moria Platform’s P2P Capabilities to Revolutionize Mining
Additionally, Ardoino highlighted Moria platform’s peer-to-peer (P2P) capabilities, stating that it is “All P2P. Perfect for #IoT.”
This indicates that the platform is designed to seamlessly integrate with Internet of Things (IoT) devices, potentially transforming the way mining operations interact with smart devices.
Despite Ardoino describing these advancements as “almost magic,” it is important to note that the full capabilities and potential applications of the Moria platform are yet to be fully seen, as it is still in the testing phase.
Tether, primarily known for its stablecoin, is now diversifying into the Bitcoin mining sector.
This move signals the company’s expansion beyond its flagship product, USDT, and positions it as a player in the Bitcoin mining and adoption space.
However, the impact of this development on the broader cryptocurrency ecosystem can only be determined over time.
Tether Energy Project in Latin America Nearing Completion
On August 26, 2023, Ardoino addressed the speculation surrounding a photo that displayed a container with the “Tether Energy” logo.
Confirming the photo’s authenticity, Ardoino revealed that it depicted a control room at a site in Latin America that is nearing completion. Under the Tether Energy venture, this site aims to establish global partnerships for renewable energy production and Bitcoin mining.
Ardoino emphasized the importance of decentralizing Bitcoin mining geographically to counter the concentration in specific regions. The site is expected to commence operations in the coming weeks.
Concluding Thoughts
Earlier, on August 5, 2023, Ardoino shared insights into Tether’s development endeavors, specifically advanced JavaScript libraries that are being developed to interact with various cryptocurrency miners.
These libraries, described as “really high-quality stuff,” will play a crucial role in the Moria mining farm orchestration tool.
This tool, based on technology from Holepunch.to, facilitates the creation of peer-to-peer (P2P) programs without servers. Ardoino also hinted at the tool’s potential expansion to monitor energy production, reflecting the growing focus on energy efficiency in crypto mining.
In summary, Tether’s testing phase of the Moria Bitcoin mining platform demonstrates the company’s expansion into the mining sector.
With the integration of containers and miners into the platform, as well as its P2P capabilities and emphasis on energy efficiency, Tether is positioning itself as a key player in the cryptocurrency ecosystem.
The full potential of the Moria platform and its impact on the industry are yet to be unveiled.
