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Tether Partners with OCEAN to Boost Bitcoin Mining Decentralization

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Tether Bets on OCEAN to Challenge Centralized Bitcoin Mining

Bybit and Avalon Bring Bitcoin Yield to the Masses

Strategy Keeps Accumulating

The move aligns with Tether’s $500 million mining investment and includes the deployment of OCEAN’s censorship-resistant DATUM protocol across its mining sites in Latin America. Meanwhile, Bybit and Avalon Labs introduced a Bitcoin yield product via the Bybit Earn platform, bridging CeFi and DeFi to offer returns on Bitcoin without selling it. Additionally, Michael Saylor’s firm Strategy bought another 3,459 BTC for $285.5 million.

Tether Bets on OCEAN to Challenge Centralized Bitcoin Mining

Tether, the $144 billion stablecoin issuer, announced plans to allocate both its current and future Bitcoin mining hashrate to OCEAN’s decentralized mining pool. The move is part of Tether’s mission to enhance the decentralization of the Bitcoin network and reduce reliance on dominant centralized mining pools like Foundry USA, AntPool, and ViaBTC. According to Tether CEO Paolo Ardoino, this initiative is aligned with the company’s mining investments and efforts to safeguard Bitcoin against centralizing forces.

Although Bitcoin’s hashrate is geographically dispersed, the block-building process is still heavily centralized, with a handful of mining pools controlling a majority of block production. OCEAN was created by Bitcoin core developer Luke Dashjr in 2023, and it aims to shift this dynamic through its open-source DATUM protocol, which allows miners to build their own block templates independently. This protocol not only boosts censorship resistance but also reduces dependency on centralized intermedia