Stablecoin issuer Tether (USDT) is currently in the process of developing specialized software called Moria, which is designed to optimize Bitcoin mining and renewable energy operations through the use of data analytics. Tether’s Chief Technology Officer, Paolo Ardoino, recently provided more details about this new software, explaining its purpose and potential benefits.
Named after the dwarven mining kingdom from “The Lord of the Rings” trilogy, Moria is being developed by Ardoino and his team of developers. The software aims to address the limitations of existing cloud-based Bitcoin mining trackers, which lack the customizability and deep-level orchestration capabilities required to optimize mining and energy outputs.
According to Ardoino, most mining companies currently rely on basic cloud solutions that provide a simplified interface displaying the current status of their mining sites. However, these solutions do not offer the necessary tools for analyzing real-time data and making informed decisions to enhance performance. Moria seeks to bridge this gap by providing complex and efficient analytical tools that enable mining companies to understand the performance of their sites and their surrounding environments.
Ardoino emphasized the significance of having access to detailed data from energy production and mining sites, especially those that use renewable sources such as wind or solar power. By analyzing parameters such as predicted wind speed for a particular day or hour, mining operations can be optimized by overclocking certain miners to boost production.
Tether has been actively investing in energy production and Bitcoin mining using a portion of its USDT reserves. Ardoino stressed the importance of recording, monitoring, and analyzing real-time data from various devices, including miners, containers, and electric transformers, to streamline operations.
In a recent social media post, Ardoino extrapolated on the potential value of a Bitcoin mining site composed of thousands of physical mining units stored in multiple containers, all connected to thousands of other devices. He likened the mining site to an Internet of Things project, generating millions of data points that can be harnessed for optimization.
For now, Moria’s development focus is primarily on its Bitcoin analytical tools, but the software will eventually be expanded to cover energy production as well. Ardoino highlighted the wealth of information that can be gathered from energy sources like solar panels and windmills.
Describing Moria’s software as a Holepunch-based scalable and modular architecture, Ardoino explained that it can collect, aggregate, and analyze data from various devices to optimize Bitcoin mining processes.
This development comes on the heels of Tether’s announcement that it will invest $1 billion in El Salvador’s volcano energy project, utilizing shareholder profits to support energy infrastructure and Bitcoin mining operations. In an interview with Cointelegraph, Ardoino provided insights into Tether’s motivations behind this strategic move.
In summary, Tether is taking proactive steps to enhance Bitcoin mining and renewable energy operations through the development of specialized software. Moria aims to provide improved analytics and performance optimization by analyzing real-time data from mining sites. By investing in these areas and leveraging data analytics, Tether is further solidifying its presence in the cryptocurrency market and its commitment to sustainability.