Tether, the company behind the USDT stablecoin, is entering the Bitcoin mining space in a new way—by contributing hashrate to OCEAN, a mining pool launched by Bitcoin Core developer Luke Dashjr. The move, announced on April 14, is part of the firm’s broader strategy to strengthen the Bitcoin network and support decentralization efforts.
Strategic Expansion into Mining
Tether said it will deploy both current and future hashrate to the OCEAN pool, effectively supporting Bitcoin’s network security while reinforcing decentralization. The initiative will span Tether’s global operations and include expansion into underserved markets, such as Africa, where mining infrastructure is still developing.
“Deploying hashrate to OCEAN aligns with both our mining investments and our broader mission to fortify Bitcoin against centralizing forces,” said Paolo Ardoino, CEO of Tether.
The company emphasized that supporting OCEAN’s model—one built with decentralization as a core principle—matches its goal of ensuring that Bitcoin mining remains open, transparent, and widely distributed.
Backed by Bitcoin Core Expertise
Luke Dashjr, a prominent Bitcoin Core developer and now chairman and CTO at OCEAN, has positioned the pool as a response to concerns over increasing centralization in mining operations. Dashjr has long advocated for mining solutions that are more inclusive and less reliant on centralized intermediaries.
The partnership with Tether signals growing institutional interest in alternative mining frameworks and a broader acknowledgment that network decentralization is a security issue as well as an ideological one.
Tether’s Mining and Bitcoin Strategy
This move builds on Tether’s recent aggressive Bitcoin investment strategy, including the purchase of $735 million in BTC during Q1 2025, raising its total holdings to $8.2 billion. With growing reserves and now a foothold in mining, Tether is reinforcing its position as a long-term Bitcoin backer—not just financially, but also through infrastructure.
