Tether to Invest $500M in Bitcoin Mining Venture

Tether Holdings Ltd has announced a 3-year plan to invest $500 million in its Bitcoin mining venture, with the aim of becoming one of the world's top Bitcoin mining companies. The funds will be used to construct crypto mining sites and purchase stakes in other companies. Tether hopes to hit 120 megawatts in its mining operations by the end of the year and 450 megawatts by the end of 2025. This move marks a pivot away from Tether's USDT token and could transform the competition around it.