In an advanced report, the leading stablecoin issuer, Tether, revealed that the firm has invested in creating innovative software to improve Bitcoin mining activities. The proposed software will support Bitcoin mining operations that leverage data analytical tools and renewable energy.
Addressing the media, the chief technology officer Paolo Ardoino argued that Tether’s latest development aimed at improving the efficiency of Bitcoin mining by introducing better analytical tools. The CTO went ahead and shared the features of the mining software with the Tether community.
Tether to Invest in Bitcoin Mining
A review of the Ardoino post illustrated that the CTO led other Tether developers to build “Moria,” an artificial intelligence-powered device for aggregating and analyzing data.
In his admission, Ardoino argued that the Bitcoin mining operation relies on cloud-based trackers, which are unmodified. The executive lamented that existing Bitcoin mining trackers lacked “deep-level orchestration capabilities.”
The gaps in the Bitcoin mining industry mentioned by Ardoino will require developing an innovative device for analyzing real-time data to improve mining.
He recognized that the existing mining software is cloud-based and has a simplified interface to provide the user with a detailed overview of Bitcoin mining activity.
The CTO underscored the need to develop software accessible to deep data sources for mining sites. The executive explained that to develop the said mining tools, the developers will have to create complex and efficient analytical tools that will provide the user with crucial data for analyzing the performance of the mining site.
The CTO added that the proposed software would have innovative optimization parameters that can be used to determine the wind speed or measure the solar strength on a particular day. Ardoino argued that obtaining crucial data would enable the miners to improve their production.
Moreover the stablecoin issuer has invested heavily in improving energy production for the mining sites. The Tether report demonstrated that the excess reserves of USDT are utilized in supporting Bitcoin mining activities.
Tether to Launch Mining Software
The remarkable efforts made by Tether aim at transforming the crypto-mining sector by streamlining the processes. The CTO confessed that Tether’s latest development seeks to improve the storage and monitoring of data generated from miners, electric transformers, and other containers. The report illustrated that data from different mining site sources would be analyzed in real-time.
From Ardoino X’s post (formerly known as Twitter), the CTO computed the value generated from a Bitcoin mining site that constitutes thousands of physical mining units locked in several containers. In his argument, the CTO admitted that the mining site has similar features to that of the Internet of Things (IoT) that generates millions of data points.
In his signing-off remarks, the executive highlighted the core feature of Moria, which focuses more on developing the Bitcoin analytical tools. Later Ardoino restated that the Moria project would focus on improving energy production for crypto mining.
The Moria project is expected to focus on improving the performance of solar panels, windmills, and other sources of energy that produce significant mining related information. The executive explained that the Moria software corresponds to Holepunch, commonly used by Bitcoin miners to gather and analyze data from different sources.
A few weeks ago, the stablecoin issuer announced plans to invest approximately $1 billion into creating a renewable energy project in El Salvador. The proposed investment aims at rerouting Tether shareholders’ returns into the Bitcoin mining sector. However, the CTO confessed that the Tether team is discussing the El Salvador project privately.