In a recent update from Paolo Ardoino, Tether’s Chief Technology Officer, it was revealed that Tether is in the testing phase of its new Bitcoin mining platform called Moria. The announcement was made via Ardoino’s official Twitter account at [Date]highlighted the integration of the first containers and miners into the platform.
According to the details shared, the Moria platform has undergone significant software improvements. All Power Distribution Unit (PDU) management and miner interactions, including settings related to frequency and power, are now fully software controlled. This level of automation ensures that all writes on the platform require multi-sig approval (multi-signature), adding an additional layer of security.
Additionally, Ardoino highlighted the platform’s peer-to-peer (P2P) capabilities, stating that it is “P2P only. Perfect for #IoT.” This suggests that Moria is designed to integrate seamlessly with Internet of Things (IoT) devices, potentially revolutionizing the way mining operations interact with smart devices.
While Ardoino described the progress as “almost magical,” it is essential to note that the full capabilities and potential applications of the Moria platform have yet to be seen as it is still in the testing phase.
It’s worth mentioning that while Tether is best known for its stablecoin, this move signals a diversification into the Bitcoin mining sector. But as with all technological developments, only time will tell how this development will impact the broader cryptocurrency ecosystem. In addition to its flagship product, USDT, Tether is also expanding its business into Bitcoin mining and acceptance.
On August 26, 2023, as reported by Blockchain.News, Ardoino addressed the growing speculation surrounding a photo showing a container with the “Tether Energy” logo. He confirmed the authenticity of the photo, revealing it as an image of a control room at a nearly completed site in Latin America. This site, under the Tether Energy venture, aims to establish global partnerships for renewable energy production and Bitcoin mining. Ardoino emphasized the importance of geographically decentralizing Bitcoin mining, to counter the current concentration in specific regions. The site is expected to be operational in the coming weeks.
Previously, on August 5, 2023, Ardoino shared insights into Tether’s development efforts. The team is nearing completion of advanced JavaScript libraries designed to communicate with various cryptocurrency miners. These libraries, described as “really high quality material”, will play a central role in the Moria mining farm’s orchestration tool. This tool, based on technology from Holepunch.to, where Ardoino is also co-founder and Chief Strategy Officer, facilitates the creation of peer-to-peer (P2P) programs without servers. Ardoino hinted at the tool’s potential expansion to monitor energy production, reflecting the increasing emphasis on energy efficiency in crypto mining.
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