Tether, the company behind the USDT stablecoin, is preparing to launch new software. The software aims to enhance the efficiency and capacity of Tether’s Bitcoin mining operations by utilizing JavaScript libraries to communicate and control various Bitcoin mining devices.
These devices include WhatsMiner, AvalonMiner, and Antminer. Paolo Ardoino, the Chief Technology Officer (CTO) of Bitfinex and Tether, stated that the software will be highly reputable with an emphasis on quality, polish, and modularity.
Additionally, Ardoino personally involves himself in developing Moria, a tool designed to coordinate mining farms. The upcoming software will employ Holepunch technology, which ensures secure and encrypted data streaming as well as command reception among the mining devices.
Ardoino explained that introducing the new software would bring about several benefits. First, it would simplify firewall configuration by reducing complexity. Second, it would enhance system resilience in the face of failures. Third, it would enable effortless replication across multiple sites.
Additionally, this software update aims to enhance system maintainability and modularity. According to Ardoino, these improvements surpass anything they have previously attempted.
Tether’s Green Bitcoin Mining Initiative
Tether has actively supported environmentally friendly Bitcoin mining since May 2023. During that time, the company announced its investment in renewable energy production and sustainable mining in Uruguay. To establish a green Bitcoin mining ecosystem in Latin America, Tether partnered with a licensed local company to create Tether Energy.
The project aims to monitor the energy production and consumption of the mining operations using new software developed by Tether. Notably, Tether utilizes top brands of Bitcoin mining hardware (ASICs), including MicroBT’s WhatsMiner, Canaan’s AvalonMiner, and Bitmain’s Antminer.
In related news, The mining difficulty of Bitcoin, which gauges the level of difficulty in discovering new blocks and earning rewards, is expected to decrease consecutively for the second time. This adjustment occurs every 2016 blocks or approximately every two weeks based on the network’s total hash rate or computing power.
On July 13, 2023, the difficulty level reached an unprecedented high of 53.03 trillion. However, there significantly dropped by 2.87% on July 26, 2023. BTC.com projects that the next adjustment on Aug. 8, 2023, will bring another reduction of approximately 0.46%. Currently, the difficulty level stands at 52.33 trillion.
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