Stablecoin operator Tether is building specialized Bitcoin mining software aimed at using data analytics to optimize mining operations and boost production, CTO Paolo Ardoino says.
News
Stablecoin issuer Tether (USDT) is building specialized software to optimize Bitcoin mining and renewable energy operating using data analytics, following recent investment endeavors into both categories.
In conversation with Cointelegraph, Tether CTO Paolo Ardoino expanded upon details of its in-development mining software which aims to deliver improved analytics and performance of mining sites.
Related: Tether’s game plan in El Salvador: Why invest in Volcano Energy?
Moria, named after the dwarven mining kingdom from The Lord of the Rings trilogy, is being built by Ardoino and a team of developers. Tether’s CTO had previously shared details of the software in a recent social media post.
Tether is investing in renewable energy production (with excess reserves / profits) and sustainable #bitcoin mining.
While there are ton of cloud-based bitcoin mining trackers, everything I’ve seen so far is not really customizable and lacks of deep-level orchestration…— Paolo Ardoino (@paoloardoino) August 15, 2023
Ardoino says that while the ecosystem has a number of cloud-based Bitcoin mining trackers, these lack a high degree of customizability and “deep-level orchestration capabilities” which has left a gap in the market for a solution that analyzes real-time data to optimize mining and energy outputs.
“So far most software that mining companies use are basic cloud solutions that have a simplified interface that provides an overview of the current status of the bitcoin mining site.”
Ardoino said that having access to deep data sources of an energy production site or a mining site requires complex and efficient analytical tools in order to understand the performance of a site and its surrounding environment.
“If energy used by the mining site is wind or solar, there are optimization parameters, like predicted speed of wind for a specific day or a specific hour of the day, that could be used to overclock some of the miners and boost the production.”
Tether has been actively investing in energy production and Bitcoin mining using a portion of excess reserves of USDT. Ardoino said that ensuring data produced by a variety of devices including miners, containers and electric transformers is recorded, monitored and analyzed in real time is imperative to streamlining operations.
His recent X post extrapolated the value to be derived from a Bitcoin mining site made up of thousands of physical mining units stored in multiple containers connected to thousands more devices. The Tether CTO likened a mining site to an IoT project that produces millions of data points.
Ardoino added that the development focus of Moria is currently on its Bitcoin analytical tools, before the software is extended to cover energy production.
“There as well you have solar panels, wind mills etc that provide an incredible amount of information.”
Ardoino describes Moria’s software as a Holepunch-based scalable and modular architecture that is able to collect, aggregate and analyze data from a variety of devices to optimize Bitcoin mining.
Tether recently announced that it would invest $1 billion into El Salvador’s Volcano Energy project, directing shareholder profits into energy infrastructure and Bitcoin mining operations. In another extensive interview with Cointelegraph, Ardoino outlined Tether’s reasoning behind the move.
Magazine: ‘Elegant and ass-backward’: Jameson Lopp’s first impression of Bitcoin
