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Tether Ventures Boldly Into Bitcoin Mining, Anticipates Major Market Share Growth

Benzinga ·  11/17/2023 06:26

Creating a strong foothold in the stablecoin market, Tether (CRYPTO: USDT) is now looking to enter the Bitcoin mining space with a significant investment. In the past year, Tether's market cap has grown by 32.7%, reflecting its prominent presence in the cryptocurrency market. What Happened: Tether's incoming CEO Paolo Ardoino announced plans to spend almost $500 million over the upcoming six months to expand into the Bitcoin mining industry, Bloomberg reported. It plans to build mining facilities or acquire stakes in other companies. Tether announced a $610 million credit facility to Bitcoin mining company, Northern Data AG in November after it

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