PART 2
Cryptocurrency Tether, precisely USDT, has experienced impressive growth and surpassed $100 billion in the market cap on March 4 consecutively and currently has a year-to-date increase which may be 9%. This is according to the accomplishment would put Tether on the third position by the market capitalization. It would only trail behind Bitcoin and Ether.

As contrast, the USDC issued by Circle holds the seventh spot at market cap of $32.5 billion which is however less than Tether’s. Tether’s audacious scheme involves taking control of 1% of the Bitcoin mining operations by 2024. It is a consummate exercise to show to the crypto world that Tether can not only diversify its sources but has also the potential to expand its influence too.

Venturing beyond stablecoins

While Tether’s development strategy is all about stablecoins, the firm is going to invest around five hundred million dollars in supporting the building of Bitcoin mining facilities in Uruguay, Paraguay, and Salvador. The initiative is purposed at motivating Tether to quickly expand its computing power to 1% of the Bitcoin mining network to show a more serious commitment to the coin mining industry. The planned sites with capacity ranging between 40 MW and 70 MW are part of a wider distraction to increase the DT’s direct mining operations to 450 MW by the end of 2025.

Ardoino’s mining strategy stands out for its slow-paced and learning-intensive nature. He stated, “Mining for us is a constant process of learning and growth by time we do not want to become the world’s biggest miner today.” Contrary to the “heavy aim,” this cautious stance reflects Tether’s determination to wander the new paths with the target to remain a reliable and stable coin