According to Bloomberg, Tether’s new CEO Ardoino said in an interview that the company plans to spend about $500 million in the next six months to become one of the world’s top Bitcoin miners by building its own mining facilities and taking stakes in other companies. achieve this goal. Ardoino said that Tether is building Bitcoin mining farms in Uruguay, Paraguay and El Salvador, each with a capacity of between 40 and 70 megawatts, with the goal of increasing the share of the total computing power running the Bitcoin network to 1%, but declined. Be specific about the timeline for achieving that goal. Ardoino added in an emailed statement that Tether expects to generate 120 megawatts of electricity from its direct mining operations by the end of 2023 and 450 megawatts by the end of 2025.