Tether CTO stays silent on Bitcoin mining locations


Paolo Ardoino, the chief know-how officer of stablecoin issuer Tether, just lately discovered himself addressing rumors about photographs of huge industrial containers on-line, main him to reject questions on the place Tether is mining Bitcoin (BTC). 

In an Aug. 26 X (previously Twitter) submit, Ardoino shed gentle on the curiosity sparked by the photograph he shared on Aug. 24. The picture displayed a container with a photoshopped Tether Energy emblem, leaving many individuals pondering over what it’s all about.

He clarified that the photograph reveals a management room at certainly one of Tether’s Bitcoin mining sites that it’s at the moment finishing and can quickly start operations at.

However, Ardoino firmly acknowledged he wouldn’t disclose the placement, responding to quite a few customers who’ve inquired about it.

While he did point out that the positioning is someplace within the continent of South America, he added no additional particulars because of safety causes.

“Where? In LATAM. We tend to not share exact locations to avoid personnel harassment, a valid concern given the amount of detractors obsessed with Tether,” he declared, admitting that it has led to many Tether skeptics questioning its legitimacy:

“You can nearly hear a few of them screaming: ‘NOOOOOOOO if you don’t inform us the handle, zip code, surname of the cow that’s consuming the grass close by, then it’s not actual!!!!!‘”

He addressed doubters who were curious about the photoshopped logo appearing on the containers, explaining that it was a deliberate media decision.

“We thought that the photo would have been shared on newspapers so the team wanted to brand it,” Ardoino noted. However, he believes having logos displayed at the mining sites would not be a wise approach from a security standpoint:

“Moreover, putting gigantic Tether logos would not be great from physical privacy of the site point of view.”

He anticipates operations to commence sometime in September.

“The site is progressing well, everyone in the team is super excited and working around the clock to start operations in the next few weeks,” he declared.

Related: Mining 1 BTC in Lebanon is 783x cheaper than Italy: CoinGecko report

This comes after news that Tether is developing mining software aimed at providing more transparency within the Bitcoin mining industry.

In an interview with Cointelegraph on Aug. 17, Ardoino explained that Tether is working on a mining software called Moria that provides more comprehensive data analytics on energy production at Bitcoin mining sites.

Ardoino highlighted the need for better analytics and performance review in Bitcoin mining. He believes Moria will assist with evaluating the site’s efficiency and surrounding atmosphere:

“If energy used by the mining site is wind or solar, there are optimization parameters, like predicted speed of wind for a specific day or a specific hour of the day, that could be used to overclock some of the miners and boost the production.”

Magazine: Bitcoin miner gets life in prison, China offers bounties for crypto firms: Asia Express