Tether and Bitcoin | Crypto Daily Digest Aug. 7

TI Research

The largest stablecoin issuer Tether has been steadily expand its business in bitcoin ecosystem

Tether, the company behind the world’s most popular stablecoin USDT, acquired 1,529 bitcoin in the second quarter of 2023. The purchase confirms the company is following the plans it delineated earlier this year.

In May, Tether announced to Allocate 15% of Profit to Purchase Bitcoin

According to some analysts, Tether is probably now the 11th largest bitcoin holder.

Tether is also very active in the bitcoin mining sector. Tether announced a mining arm in the Uruguay in collaboration with a local licensed company in addition to investing in Uruguay’s energy production.

Tether Launches Bitcoin Mining Operations in Uruguay

At the same time, the company is partnering with Bitcoin-friendly nation El Salvador to invest in a planned $1 billion dollar renewable energy initiative.

Tether Invests in El Salvador’s $1B Bitcoin Mining Project

In a most recent move, Tether Releases Bitcoin Mining Software

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