According to PANews, Tether Holdings Ltd. is planning to invest about $500 million in the next six months to become one of the world's largest Bitcoin mining companies by building its own mining facilities and taking stakes in other companies. Paolo Ardoino, Tether's incoming CEO, said the company is building Bitcoin mines in Uruguay, Paraguay and El Salvador, each with a capacity of between 40 and 70 megawatts, with the goal of increasing its share of the total computing power running the Bitcoin network to 1%. Tether expects its direct mining operations to generate 120 megawatts of power by the end of 2023, and 450 megawatts by the end of 2025.