Tether invests $500 million in Bitcoin mining decentralisation

Tether (CRYPTO:USDT), the issuer of the stablecoin USDT, has announced a strategic partnership with OCEAN, a decentralised Bitcoin (CRYPTO:BTC) mining pool, to enhance the decentralisation of the Bitcoin network.

This move involves deploying Tether's existing and future Bitcoin hashrate to OCEAN's mining pool, leveraging its open-source DATUM protocol to empower miners to create their own block templates.

Tether's CEO Paolo Ardoino emphasised that this partnership aligns with the company's mission to fortify Bitcoin against centralising forces.

"Deploying hashrate to OCEAN aligns with both our mining investments and our broader mission to fortify Bitcoin against centralising forces," Ardoino stated.

The DATUM protocol is designed to reduce reliance on centralised intermediaries and enhance censorship resistance.

Tether will implement this technology across its global operations, including in rural areas of Africa, where it aims to promote geographic and operational diversity.

OCEAN was founded by Bitcoin Core developer Luke Dashjr in 2023 and has received backing from Block CEO Jack Dorsey.

Despite its current small market share, OCEAN's partnership with Tether is expected to significantly boost its hashrate and contribute to a more decentralised Bitcoin mining landscape.

Tether's investment in Bitcoin mining is part of a broader strategy that includes a $500 million commitment to the sector.

This initiative reflects the company's belief in the importance of decentralised infrastructure for the long-term integrity of the Bitcoin network.

At the time of reporting, the Tether (USDT) price was $0.9998 and the Bitcoin (BTC) price was $85,293.75.