Tether Will Use the Altcoin That Has a Pump-Dump Price for Bitcoin! - Coin Bulletin

Tether announced that it will direct its current and future hash power to the OCEAN mining pool created by the controversial Bitcoin Core developer Luke Dashjr, in order to support the infrastructure of Bitcoin mining.

Tether, as the largest stablecoin provider, aims to establish a deeper connection with the mining sector. The company plans to invest approximately 500 million dollars in mining operations by 2025 and aims to acquire stakes in existing companies. OCEAN operates as a decentralized mining pool working with an open-source protocol called DATUM Gateway, launched by Dashjr in 2023. This pool is designed to provide low-latency performance, aiming to enhance the global competitiveness of facilities engaged in Bitcoin mining.

Tether aims to expand mining activities in rural and underserved areas such as Africa by utilizing the DATUM Gateway in mining operations worldwide. Additionally, through this collaboration, Tether plans to enhance its capacity to produce unique block templates offered by OCEAN and connect thousands of mining devices.

Luke Dashjr is known for his conservative views on the Bitcoin protocol. For example, Dashjr, who is against the "inscriptions" referred to as NFTs belonging to Bitcoin, is trying to filter such transactions in the OCEAN mining pool. This stance has been criticized by some members of the Bitcoin community.

The OCEAN token showed significant price movement a day before the Tether announcement. On April 13, 2025, the price of OCEAN rose from $0.22 to $0.377. However, after this increase, the token retraced all its gains, falling back to the $0.22 level. This sudden price movement indicates that volatility is high among investors and that Tether's announcement regarding mining operations has caused confusion in the market.