Tether Set to Release New Software to Improve Bitcoin Mining

Stablecoin issuer, Tether Holdings is actively developing a Bitcoin mining software in a bid to boost mining activities

Tether is looking to improve the management of mining capacity with the new Bitcoin (BTC) mining software that its team of developers are getting set to release. 

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Mining Software for BTC Mining Hardware

Paolo Ardoino, the Chief Technology Officer (CTO) of Bitfinex and Tether has announced that Tether’s developers are currently working on finalizing the new JavaScript libraries intended to facilitate the transmission of commands and signals to Bitcoin mining hardware. 

Some of the hardware which has been confirmed to be compatible with the software are WhatsMiner, AvalonMiner and Antminer. Tether believes that proper management of the BTC mining capacity will lead to the efficient completion of more operations. According to Ardoino, the design of the new software is “high-quality, polished and modular.”

Tether’s BTC Mining Software May be Open-sourced

Also, Tether CTO suggested that certain segments of the BTC mining software could be available in the future on open-source platforms as part of Tether’s contribution to the ecosystem.

The company has been doing so much on Bitcoin and mining lately. In May, Tether made a BTC acquisition move that suggested to netizens that the firm planned to outpace business intelligence company MicroStrategy which has the largest BTC holding.

According to Tether’s first quarter earnings report, the USDT Issuer purchased 52,670 Bitcoin worth approximately $1.4 billion at the time. This purchase gave Tether a seat amongst top institutional Bitcoin holders. Notably, the acquisition was in sync with Tether’s plan to set aside a percentage of its profit for the purchase of Bitcoin.

Tether CTO Talks About Moria

Ardoino also talked about his contribution to Moria, an orchestration instrument for mining farms. He also confirmed that the latest advancements are built using Holepunch technology. 

Based on a previous tweet shared by Tether CTO on Moria’s functionalities, the mining orchestration instrument is designed for easy and efficient communication between components that exist within the BTC mining ecosystem in a more streamlined, secure, attack-resistant and cost-efficient way.

Tether is also focused on ensuring that mining carbon footprint is under control by working with local energy operators. Therefore, the new technology will cut across energy production monitoring. On the other hand, Bitcoin mining difficulty has faced another negative adjustment in a row. It dropped by almost 3% on July 26, 2023, after setting a new all-time-high ATH.

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