The new software aims to make managing mining capacity more efficient. It helps coordinate different parts of the Bitcoin mining ecosystem.
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Tether developers are launching innovative JavaScript libraries to enable the transmission of orders and signals to Bitcoin mining gears.
Tether’s CTO, Paolo Ardoino, announced on Twitter that some parts of the mining software will be released as open source in the future. The main objective of the Tether BTC mining software is to improve the efficiency of managing mining capacity.
GM#Tether 's dev team almost finished to create well polished javascript libraries to command and interact with whatsminers, antminers and avalon miners.
Really high quality stuff, super modular, highly polished.
I'm directly coding the core architecture of our Moria mining…— Paolo Ardoino 🍐 (@paoloardoino) August 5, 2023
In addition, Paolo Ardoino highlighted his role as a key contributor to Moria, which is a tool used for managing mining farms. He also mentioned that all the latest developments were made using Holepunch technology.
Significant Boost for Mining Sector
In addition, Ardoino previously discussed Moria’s capabilities. This mining tool enables smooth communication and coordination among different parts of the Bitcoin mining ecosystem. It ensures simplified, secure, attack-resistant, and cost-effective interactions.
Furthermore, the CTO explained that each miner would have its own public/private key. This allows for encrypted data transmission through hyper cores and command reception via hyper swarms. This approach improves maintainability, modularity, firewall setup simplicity, failure resilience, and enables easy replication between sites.
Tether’s treasury reserve assets backing USDT tokens have continued to grow, as stated in the company’s Q2 2023 financial report. According to BDO, the accounting firm, Tether Holdings’ excess reserves increased by $850 million, bringing the total to $3.3 billion, as stated in the Q2 attestation report.
The company had previously announced plans to allocate a monthly budget for purchasing BTC. Additionally, Tether is collaborating with a Uruguayan firm to invest in renewable energy generation and BTC mining.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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