On February 13, Paolo Ardoino, CTO of Tether and Bitfinex, has announced that “Tether and Bitfinex have been investing in Bitcoin mining recently.”
Furthermore, he revealed on Twitter that the firm’s Bitcoin mining strategy is to “ensure enough geographical and political diversity as a priority VS 1/2 cent electricity.”
“Cheap electricity can create concentration. Good for companies, not necessarily the best for BTC,” he added.
In the future, these 2 firms will work with local entities and focus on mining infrastructure that is “sustainable and can produce wealth that can be reinvested in the community,” according to Paolo’s statement.
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