Tether, the company behind the USDT stablecoin, has announced plans to contribute hashrate to OCEAN, a decentralized Bitcoin mining pool launched by Bitcoin Core developer Luke Dashjr. The move marks a significant step in Tether’s strategy to support network decentralization and fortify Bitcoin against centralizing forces, according to CEO Paolo Ardoino.
Mining Across Underserved Regions
The deployment will include both Tether’s existing and future hashrate, and the company plans to roll out the initiative globally, including in underserved regions such as parts of Africa. This expansion reflects Tether’s broader push into infrastructure-level investments in the Bitcoin ecosystem, building on its previous Bitcoin purchases and mining commitments.
OCEAN is designed to prioritize decentralization in mining by avoiding central control over block templates and redistributing power away from dominant players. Tether’s decision to align with OCEAN underscores growing industry concerns about mining centralization risks, especially as large mining firms consolidate power and influence over network consensus.
Strategic Synergy with Tether’s Bitcoin Holdings
The move also complements Tether’s growing direct exposure to Bitcoin. As recently reported, the firm added another $735 million in BTC in Q1 2025, bringing its total holdings to $8.2 billion. By actively participating in Bitcoin mining, Tether is now deepening its integration with the Bitcoin economy, not just as a holder and user, but also as a contributor to the network’s security.
OCEAN’s CTO Luke Dashjr welcomed the partnership, calling Tether’s involvement a “strong vote of confidence” in the need for transparent and open mining infrastructure.
