Tether to Allocate Hashrate to Mining Pool 'Ocean'... "Aiming to Strengthen Bitcoin's Censorship Resistance"
Summary
- Tether announced it will allocate hashrate to the Ocean mining pool.
- This is stated to be a strategic move to enhance the transparency and decentralization of the Bitcoin network.
- Tether emphasized that the allocation of hashrate is related to the company's commitment to safeguarding the Bitcoin ecosystem.
Tether, the world's largest stablecoin issuer, announced plans to allocate its hashrate to the mining pool Ocean.
On the 14th, Tether stated in an official announcement, "We will deploy existing and future mining hashrate to the mining pool Ocean," adding that "this is a strategic move to enhance the transparency and decentralization of the Bitcoin network."
Ocean is a decentralized mining pool designed to allow miners to directly configure block templates, reducing reliance on central intermediaries and increasing censorship resistance. Ocean was founded by Bitcoin Core developer Luke Dashjr and is known to have received investment from Twitter founder Jack Dorsey.
Paolo Ardoino, Tether's Chief Executive Officer (CEO), emphasized, "As a company pursuing financial freedom and accessibility, the decentralization of Bitcoin mining is essential for the long-term health of the network," adding, "Allocating hashrate to Ocean aligns with Tether's mining investment and commitment to safeguarding the Bitcoin ecosystem."
Meanwhile, hashrate refers to the total computational power mobilized across the network to mine Bitcoin.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
