- Tether, the parent company of the biggest stablecoin, USDT, announced the creation of a new Bitcoin Mining Software. Their CTO announced the latest development on X (now Twitter).
- According to him, the new development will help to enhance the state of Bitcoin mining. Furthermore, the JavaScript libraries in Tether’s development will incorporate many Bitcoin mining hardware.
Paolo Ardoino, the chief technology officer of Bitfinex and Tether, announced on X (Twitter) that the company wants to build a new Bitcoin mining software. According to the CTO, he said the new software will be a game changer in the sector. Furthermore, he went into detail to explain exactly how the software will work.
Tether Set to Launch a New Bitcoin Mining Software
The CEO of Tether and Bitfinex, Paolo Ardoino, released a statement confirming the launch of a new Bitcoin mining software. Apparently, the company looks forward to improving the Bitcoin mining sector.
Bitcoin mining hardware, including WhatsMiner, AvalonMiner, and Antminer, will receive mining commands from this new software. Apparently, the new releases are innovative JavaScript libraries that will facilitate the transmission of commands to Bitcoin mining hardware. In other words, the JavaScript libraries will make communications with Bitcoin mining hardware easier.
Tether plans to use holepunch tech while building the new technology. Previously, Tether’s CTO summarized how the holepunch tech would work in the Bitcoin mining software.
“#tether mining tech ⛏️🤖 will use holepunch tech to collect and analyze infrastructure data and interact with all the devices,” he said on Twitter.
Tether and Bitfinex Lawsuit Dismissed
Besides the new Bitcoin mining development, another good news for the Tether and Bitfinex ecosystem is the dismissal of the lawsuit against them. Apparently, there was a class action lawsuit against the two companies. Chief Judge Laura Taylor Swain of the U.S. District Court for the Southern District of New York presided over the case. Furthermore, the ruling said the plaintiffs of the case lacked enough evidence for the case to proceed to the next stages.
Nevertheless, this is massive news for two companies. Both will be happy to remove another legal load off their heads. Plaintiffs Matthew Anderson and Shawn Dolifka made the allegations against the two companies. Apparently, the whole case was around the USDT token. The USDT token is a stablecoin issued by Tether.
The plaintiffs of this case questioned the backing of the USDT in 2021. The reason the judge kicked out the case was quite simple. The judge said the plaintiffs had no “plausible allegations of injury” against Tether and Bitfinex. Additionally, the plaintiffs had no evidence that “USDT had a diminished actual value at all.”
Conclusion
The new Bitcoin mining software from Tether will be a great addition to Tether’s creations. Besides, it will help in improving Bitcoin mining in the crypto industry. Also, Bitcoin and Bitfinex recently scored a win in the law court. The judge presiding over their class action lawsuit ruled against the plaintiffs.
