Back to the list

Tether launches testing phase for Bitcoin mining platform

source-logo  crypto.news 18 September 2023 16:43, UTC

Paolo Ardoino, chief technology officer of Tether, announced the launch of the testing phase for Moria, the company’s Bitcoin mining platform.

In a posting on X (formerly Twitter), Ardoino declared the platform has achieved a significant milestone during this phase by deploying its initial batch of containers and miners, including extended control over PDU management and miner interaction.

A commitment to security

Testing @Tether_to Moria #bitcoin mining platform with first containers and miners.
All PDU management, interaction with miners (set frequency, power, etc) is now fully controlled by the software.
All write actions require multisig approval.
All P2P. Perfect for #IoT .

— Paolo Ardoino 🍐 (@paoloardoino) September 16, 2023

In an email shared with crypto.news, Tether stressed its commitment to robust security protocols by highlighting that all write actions will require multi-signature approval. At the same time, the company noted that its system will take a peer-to-peer (P2P) approach and integrate with Internet of Things (IoT) technology, a development that Ardoino described as being “almost magic.”

GM#Tether 's dev team almost finished to create well polished javascript libraries to command and interact with whatsminers, antminers and avalon miners.
Really high quality stuff, super modular, highly polished.
I'm directly coding the core architecture of our Moria mining…

— Paolo Ardoino 🍐 (@paoloardoino) August 5, 2023

Moria, which is constructed on Tether’s proprietary Holepunch technology, was developed with the goal of changing the communication within the Bitcoin mining ecosystem. By seeking to facilitate secure and resilient interactions among its components, Moria is designed to be highly resistant to potential attacks and cost-effective.

In a recent interview with crypto.news, Ardoino stated that Tether’s long-term goals involved investing in Bitcoin technology, promoting sustainable mining, and supporting open financial and communication infrastructure in developing countries. He highlighted that the company was committed to championing freedom of speech and open-source technologies, as reflected in their projects like Holepunch and investments in open-source hardware wallets.

Furthermore, Ardoino insisted that regulators focus on existing financial structures rather than reactively targeting cryptocurrencies.

“In the last two years, I’ve been in good contact with regulators that are 100% interested in creating a safe environment for cryptocurrencies and blockchain technology to thrive,” he said.

Read more: Tether market cap slips as stablecoin ecosystem shifts