Tether is set to allocate hashrate on OCEAN, a strategic move that will aid in the decentralization of Bitcoin mining.
In a statement released on April 14, the issuer of USDT announced its intentions to mine Bitcoin (BTC) through OCEAN’s mining pool, utilizing both current and upcoming hashrate. Tether plans to implement the software across its global operations, reaching underserved regions such as Africa, as detailed in a blog update.
This initiative to mine via the platform, started by Bitcoin Core developer Luke Dashjr, reflects Tether’s commitment to enhancing the Bitcoin network, according to the company’s CEO, Paolo Ardoino.
“Deploying hashrate to OCEAN aligns with both our mining investments and our broader mission to fortify Bitcoin against centralizing forces,” stated Ardoino.
Luke Dashjr, Chairman and CTO of OCEAN, remarked:
“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, which has the backing of Jack Dorsey, launched its mining pool in late 2023 and relocated its headquarters to El Salvador in May 2024. The OCEAN team introduced DATUM—short for decentralized alternative templates for universal mining—in September 2024.
On another note, Tether, whose stablecoin USDT has surpassed $144 billion in market cap, announced plans to establish its headquarters in the Bitcoin-friendly nation by early 2025.
The partnership between the two entities is part of Tether’s overall market strategy and investment focus. Beyond USDT, the company is also expanding its footprint in infrastructure, education, and artificial intelligence.
In March, Tether disclosed that its user base had reached 400 million, reflecting a 14% increase over the five-month period since October, with most of this growth occurring in the first quarter of 2025.
Additionally, the firm recently increased its ownership stake in the Latin American company Adecoagro to 70%.