At the Bitcoin Conference 2025 in Las Vegas, USA, Tether CEO Paolo Ardoino shared insights on profits, investments, and ambitions to become the largest Bitcoin mining company in the world (May 30, 2025). Tether is asserting its position in the crypto industry. This article summarizes Ardoino's speech, highlighting important announcements and their significance to the crypto market.
Paolo Ardoino's speech
Ardoino opened with impressive results: 'Last year, we achieved a profit of 13 billion USD. Currently, #Tethe holds 120 billion USD in U.S. Treasury bonds and owns over 100,000 Bitcoins.' He emphasized: 'Bitcoin is perfect, gold is not,' reflecting a strong belief in BTC.
Tether has a deep connection with Bitcoin. 'We were born alongside Bitcoin. Everyone in the company loves Bitcoin,' Ardoino said. Based in El Salvador, a pioneering country for Bitcoin adoption, Tether actively supports initiatives here.
The biggest highlight is the announcement regarding Bitcoin mining: 'We invested 2 billion USD in energy production and Bitcoin mining. By the end of the year, Tether could become the largest Bitcoin mining company in the world, surpassing even public companies.' This ambition marks Tether's transition from stablecoin to the mining sector.
Ardoino also announced a new AI platform, QVAC, designed for the community, not corporations. 'I want my AI to have a non-custodial wallet, self-manage money, and work for me, without relying on anyone else,' he explained. QVAC promises to integrate decentralized finance into AI.
Finally, Ardoino revealed a partnership with Rumble to launch Rumble Wallet, prioritizing Bitcoin and a portion of stablecoin, providing a new payment solution for users. 'We want to empower finance for everyone,' he emphasized.
Significance to the crypto market
Ardoino's statement affirms Tether's leading role in the crypto industry. Owning 100,000 $BTC (valued at approximately 10.9 billion USD) and heavily investing in mining reinforces confidence in Bitcoin as a strategic asset. The launch of QVAC and Rumble Wallet opens up the potential to integrate stablecoins and Bitcoin into AI and payments, driving practical applications. The commitment to support El Salvador also emphasizes Tether's role in promoting global crypto adoption.
Tether's actions could inspire other crypto companies to invest in mining and new technologies, while also increasing the appeal of Bitcoin and USDT in a developing market.
Risk warning
Investing in Bitcoin and stablecoins can be risky due to rapid price fluctuations and unclear legal frameworks. Be sure to research thoroughly and only use money you can afford to lose.