Tether Going Headlong into BTC Mining (Patreon)

PS yes I am still bullish on CLSK and still hold. 

But the mining space is getting read hot and also hyper competitive.  Good thing for Tether is they print money (literally)

1. Significant Investment: Tether, the issuer of the USDT stablecoin, plans to invest $500 million in establishing its own Bitcoin mining operations and supporting other mining enterprises globally.
2. Geographical Expansion: The company intends to construct Bitcoin mining sites in Uruguay, Paraguay, and El Salvador, aiming to achieve computing power that constitutes 1% of the entire Bitcoin mining network.
3. Facility Capacity: The planned Bitcoin mining facilities will have the capacity to generate between 40 and 70 megawatts of power.
4. Long-Term Strategy: According to Paolo Ardoino, Tether's CTO and incoming CEO, the company is focusing on learning and gradually expanding in the mining sector without rushing to become the largest miner.
5. Profit Allocation and Reserves: Earlier in the year, Tether announced it would dedicate up to 15% of its profits to increase its Bitcoin holdings, which will be kept in a self-custodial wallet. Tether also reported a net profit of $1.48 billion for the first quarter of the year, with Bitcoin constituting 2% of its reserve holdings.