Tether launches testing phase for Bitcoin mining platform

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

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.”

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. 

The bigger picture

When asked about the impact on the larger ecosystem, Ardoino told crypto.news, “As a pioneering force in the crypto ecosystem, Tether has always been deeply committed to preserving the integrity, resilience and security of the world’s most robust monetary network. The Moria Energy and Mining Platform was therefore born out of a need for a reliable, safe solution that can advance operations in energy production and bitcoin mining while leveraging the strengths of Tether’s co-founded P2P Holepunch technology. It will streamline all interactions globally across all production sites, enhancing data collection, monitoring and analytics and providing an important edge. Leveraging IoT technology, it holds the promise of a future characterized by secure, efficient communication that is resilient against attacks, all at a small fraction of the costs of competition. We believe that this revolutionary addition to energy production and mining ecosystem is a clear testament to innovation and ongoing progress within the crypto sphere.”

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.