Tether Deploys Its Existing and Future Hashrate on OCEAN, a Decentralized Bitcoin Mining Protocol

It will focus on delivering high-performance operations to undeveloped areas, particularly in Africa. By deploying hashrate on OCEAN, Tether is working to strengthen Bitcoin's network

Tether, the world’s leading stablecoin issuer, is showing increased commitment to keeping the Bitcoin ecosystem sustainable.

The company is preparing to make major internal changes, investing in a few different sectors and considering a major stablecoin launch. Now, it seems that Tether is also interested in supporting decentralized Bitcoin mining.

As such, Tether is deploying both its existing and future hashrate on OCEAN, a decentralized Bitcoin mining protocol. It will also be focusing on delivering high-performance operations to rural and underdeveloped areas, especially in Africa.

This initiative highlights Tether’s commitment to the long-term viability of Bitcoin. The company is a major Bitcoin holder and has been making increased forays into the African market.

Earlier this year, Bitcoin Core developer Luke Dashjr founded OCEAN in response to concerns over the centralization of Bitcoin mining. The protocol is designed to be a decentralized and open-source platform for Bitcoin mining.

In a joint statement, Tether and OCEAN explained that they will be collaborating to deploy Tether’s hashrate across the OCEAN network.

“As a company committed to financial freedom and open access, we see supporting decentralization in Bitcoin mining as essential to the network’s long-term integrity. Deploying hashrate to OCEAN aligns with both our mining investments and our broader mission to fortify Bitcoin against centralizing forces,” said Paolo Ardoino, CEO of Tether.

This partnership will enable seamless integration of Tehash, Tether’s hashrate entity, with the decentralized mining ecosystem.

Specifically, Tether’s hashrate will be able to help OCEAN in a few key ways. Critically, it highlights Tether’s commitment to the long-term viability of Bitcoin, as it is a major holder.

The company will deploy this hashrate through OCEAN’s DATUM Gateway service, which helps miners create high-performance operations in low-bandwidth areas.

Most notably, Tether will prioritize rolling out these services in rural and underdeveloped regions, particularly in Africa. This reflects Tether’s growing business commitments in the continent.

After launching in 2014, Tether has grown into one of the largest cryptocurrency companies. The firm is best known for its USDT stablecoin, which is now the third-largest cryptocurrency by market cap.

The company's mission is to provide trust and transparency in the cryptocurrency industry. Tether is a member of the Chamber of Digital Commerce and supports policies that promote innovation and protect consumers.

In addition to its stablecoin, Tether also invests in other cryptocurrency companies and projects that it believes in. The company is committed to using its resources to help the cryptocurrency industry grow and succeed.