{"id":180212,"date":"2023-08-17T15:41:14","date_gmt":"2023-08-17T15:41:14","guid":{"rendered":"https:\/\/precoinnews.com\/?p=180212"},"modified":"2023-08-17T15:41:14","modified_gmt":"2023-08-17T15:41:14","slug":"tether-cto-paolo-ardoino-says-bitcoin-mining-needs-better-analytical-tools","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/tether-cto-paolo-ardoino-says-bitcoin-mining-needs-better-analytical-tools\/","title":{"rendered":"Tether CTO Paolo Ardoino says Bitcoin mining needs better analytical tools"},"content":{"rendered":"
Stablecoin issuer Tether\u00a0(USDT) is building specialized software to optimize Bitcoin mining and renewable energy operating using data analytics, following recent investment endeavors into both categories.<\/p>\n
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.<\/p>\n
Related:\u00a0Tether\u2019s game plan in El Salvador: Why invest in Volcano Energy?<\/strong><\/em><\/p>\n 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.<\/p>\n Ardoino says that while the ecosystem has a number of cloud-based Bitcoin mining trackers, these lack a high degree of customizability and \u201cdeep-level orchestration capabilities\u201d\u00a0 which has left a gap in the market for a solution that analyzes real-time data to optimize mining and energy outputs.<\/p>\n \u201cSo 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.\u201d<\/p><\/blockquote>\n 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.<\/p>\n \u201cIf 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.\u201d<\/p><\/blockquote>\n 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. <\/p>\n 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. <\/p>\n Ardoino added that the development focus of Moria is currently on its Bitcoin analytical tools, before the software is extended to cover energy production. <\/p>\n \u201cThere as well you have solar panels, wind mills etc that provide an incredible amount of information.\u201d<\/p><\/blockquote>\n Ardoino describes Moria\u2019s 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.<\/p>\n 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\u2019s reasoning behind the move.<\/p>\n Magazine:\u00a0\u2018Elegant and ass-backward\u2019: Jameson Lopp\u2019s first impression of Bitcoin<\/p>\n