Tether plans to deploy hashrate on OCEAN, a move that will see the crypto ecosystem giant contribute to the decentralization of Bitcoin mining.
In an announcement on April 14, the Tether (USDT) issuer said that it planned to mine Bitcoin (BTC) through OCEAN’s mining pool, deploying both existing and future hashrate. Tether will roll out the software across its operations globally. It includes underserved locations such as Africa, the company wrote in a blog post.
The move to mine via the platform, which was launched by Bitcoin Core developer Luke Dashjr, aligns with Tether’s effort to support the Bitcoin network, said the company’s chief executive officer Paolo Ardoino.
“Deploying hashrate to OCEAN aligns with both our mining investments and our broader mission to fortify Bitcoin against centralizing forces,” Ardoino stated.
Luke Dashjr, Chairman and chief technical officer at OCEAN added:
“Tether’s involvement is a strong signal that decentralization remains a core priority for Bitcoin’s future. Their participation underscores the value of open, censorship-resistant mining protocols.”
OCEAN, backed by Jack Dorsey, unveiled its mining pool in late 2023, and moved its headquarters to El Salvador in May 2024. The team at OCEAN introduced DATUM, short for decentralized alternative templates for universal mining in September 2024.
Meanwhile, Tether, whose stablecoin USDT has grown to over $144 billion, announced it would establish its headquarters in the Bitcoin-friendly country in early 2025.
The collaboration between the two companies is part of Tether’s market presence and investment. Apart from USDT, the company’s growing traction includes infrastructure, education and artificial intelligence.
In March, Tether revealed its user base had hit 400 million, managing a 14% spike in the five months going back to October. Most of this happened in the first quarter of 2025.
Recently, the company pushed its ownership of Latin America firm Adecoagro to 70%.
