Bitcoin mining gets a Tether boost

June 09, 2025

Reading time: 5 minutes

Tether targets small miners with open-source Bitcoin mining OS

Key points:

  • Tether plans to open-source its modular Bitcoin Mining Operating System (MOS) by Q4 2025, enabling new players to enter the industry without third-party vendor reliance.

  • The MOS platform will support custom plugins, various hardware, and potential AI integration for performance optimization.

News - Tether, the issuer of USDt, is set to launch an open-source Bitcoin Mining Operating System (MOS) by the fourth quarter of 2025. CEO Paolo Ardoino unveiled the initiative as a step toward “leveling the playing field” for small and mid-sized mining firms. MOS will be scalable across a range of hardware setups, from Raspberry Pi units to industrial-scale operations, with a peer-to-peer IoT architecture at its core.

The modular system already supports major mining hardware, immersion containers, thermostats, and power devices. Once open-sourced, developers will be able to create custom plugins tailored to their infrastructure needs. Ardoino also noted that the platform could integrate with Tether’s internal QVAC AI tool for enhanced mining analytics.

Empowering smaller players - By removing the need for proprietary third-party software, MOS could significantly reduce the entry barriers for smaller miners, especially those generating their own power through solar or hydroelectric sources. This shift could decentralize mining operations, redistributing hashrate away from large publicly listed firms.

Tether has invested over $2 billion into energy and mining operations and expects to become the world’s largest Bitcoin miner by year-end, according to Ardoino’s remarks at the 2025 Bitcoin Conference.

A growing trend toward infrastructure control - The move also comes amid a broader industry trend of large miners diversifying or shifting to AI workloads to remain profitable post-halving. In contrast, Tether is doubling down on mining infrastructure, pushing not just capital but code into the ecosystem.

The release will include full documentation and guides, aiming to usher in a more inclusive and decentralized Bitcoin mining future.

Ethereum ETF inflows surge for 15 days straight: Is $2,700 next?

Key points:

  • Ethereum spot ETFs have now seen 15 consecutive days of inflows, totaling over $837 million since May 16.

  • ETH rose 1.28% to $2,538.25, testing the $2,540 resistance level as technicals and fundamentals align.

News - Ethereum is witnessing a sustained wave of institutional interest as spot ETFs notched their 15th consecutive day of inflows, pulling in $837.5 million since mid-May. According to CoinShares, ETH investment products led all crypto assets with $295 million in inflows for the week ending June 7, its best week since the 2024 U.S. presidential election.

The momentum has lifted Ethereum’s total assets under management to $14.09 billion, reflecting both ETF demand and optimism around network upgrades. If the current pace holds, ETH inflows could soon cross the $1 billion milestone, marking a psychological boost for bulls and signaling a potential altcoin season.

Why it matters - Unlike Bitcoin, which saw over $600 million in ETF outflows during the same period, Ethereum’s narrative is shifting from speculative asset to core blockchain infrastructure. Analysts at Bernstein highlighted Ethereum’s dominance in real-world use cases like stablecoins and tokenization, describing it as a “decentralized computer that deserves love.”

ETH’s price action has formed a potential bullish flag with support near $2,483 and resistance at $2,540. A golden cross between the 50 and 200-day moving averages further strengthens the short-term outlook.

Structural shift or speculative run? - ETH’s current ETF inflows now account for over 10.5% of all crypto ETP AUM, as per CoinShares. Institutional buyers are increasingly viewing Ethereum as the backbone of future finance, especially with the recent Pectra upgrade serving as a stepping stone for scaling improvements.

“The narrative around value accrual of public blockchain networks is at a critical inflection point,” said analysts at Bernstein, echoing views that Ethereum is becoming harder to ignore in long-term portfolios.

Bitcoin treasury boom: Strategy, Metaplanet, and KULR ramp up corporate buys

Key points:

  • Strategy acquired 1,045 BTC for $110M, lifting its total holdings to 582,000 BTC amid a $1B stock offering.

  • Metaplanet, KULR, and Blockchain Group escalate Bitcoin accumulation plans, eyeing multi-billion-dollar reserves.

News - Corporate interest in Bitcoin continues to intensify as Strategy (formerly MicroStrategy) announced a fresh purchase of 1,045 BTC for $110.2 million at an average price of $105,426. With this latest buy, its ninth straight weekly addition, the company now holds 582,000 BTC worth over $40.8 billion, according to an SEC filing.

The buy follows Strategy’s $1 billion stock offering, quadrupling its original raise. The 11.76 million shares issued under the 10% Series A Perpetual Preferred Stock are expected to generate $979 million post-deductions, primarily to fund more BTC acquisitions.

Meanwhile, Japan’s Metaplanet surged 22% on June 9 after expanding its Bitcoin goal to 210,000 BTC by 2027. Already holding 8,888 BTC, Metaplanet’s new “555 million” plan may position it as the second-largest corporate holder after Strategy. Its stock has soared over 1,700% since its first BTC buy in July 2024.

Paris-based The Blockchain Group also joined the momentum, planning to raise $340 million via an “at the market” offering. It currently holds 1,471 BTC and aims to cement its position as Europe’s premier Bitcoin treasury company.

A rising trend across borders - U.S. energy firm KULR has announced a $300 million raise to boost its BTC stash, already at 800 coins. The company also leased over 5,500 miners and earned nearly 10 BTC from operations, further mimicking Strategy’s treasury-first playbook.

Even as Bitcoin consolidates around $107,000, the institutional narrative remains bullish. Strategic treasury adoption is driving demand, with Bitbo data showing public companies now control over 3.2% of all Bitcoin that will ever exist.

SUI rallies 5% as Cetus DEX recovers after $223M hack

Key points:

  • SUI rose nearly 5% to $3.30 on triple average volume, with support forming at $3.24 amid U.S.–China trade talks.

  • Cetus Protocol resumed trading after recovering $162M from its $223M exploit, aided by a $30M Sui Foundation loan and new open-source plans.

News - SUI rebounded 4.7% over the past 24 hours to $3.30, with volume surging to 18.2 million, almost three times its daily average. The rally came as investors reacted to macro developments, including renewed trade negotiations between the U.S. and China in London, and the restoration of activity on Sui’s flagship DEX, Cetus Protocol.

The bullish price action saw a V-shaped recovery with support building at $3.24 and resistance emerging near $3.34. Traders are now eyeing the $3.30 pivot level for signs of sustained momentum.

DEX comeback after $223M exploit - Cetus Protocol officially resumed operations on June 8, 17 days after a $223 million exploit halted activity. The attacker had manipulated a pricing flaw in Cetus’ math library to drain liquidity pools, eventually attempting to launder the funds via Tornado Cash. However, $162 million in stolen assets were frozen and partially recovered.

In response, the Sui Foundation extended a $30 million loan to Cetus, alongside $7 million from reserves and other recovered assets, helping restore 85%–99% of affected pools. Cetus also allocated 15% of its native CETUS token supply for user compensation, with unlocks starting June 10.

New vision: Open-source, secure, and transparent - Cetus is now committing to becoming fully open-source, with updated smart contracts, renewed audits, and a bounty program to attract technical contributors. Legal proceedings against the attacker are ongoing across multiple jurisdictions, with the team expressing confidence in recovering remaining assets.

Despite the exploit’s damage, Cetus’ swift rebound and SUI’s price surge suggest growing investor confidence in the ecosystem’s resilience.

Did you know?

  • The FCA is proposing to let retail investors buy crypto exchange-traded notes (ETNs), previously limited to professionals, as part of a public consultation. While they’ll still restrict crypto derivatives, this signals a major opening in the UK’s digital finance landscape.

  • RAFAL Real Estate and US-based droppRWA have partnered to tokenize property in Saudi Arabia, allowing investments starting from just 1 riyal (~$0.23). This pilot enables both retail and institutional investors to own fractional shares of high-value real estate.

  • On May 7, 2025, the OCC issued Interpretive Letter #1184, confirming that U.S. national banks and savings associations may now custody and execute cryptocurrency services for customers, marking a significant expansion of crypto access through traditional finance channels.

Top 3 coins of the day

Bittensor (TAO)

Key points:

  • At press time, TAO was trading at $412, up 7.72% over the last 24 hours.

  • The price broke above the 9-day SMA as the DMI hinted at strengthening bullish momentum.

What you should know:

Bittensor registered a strong intraday rally after bouncing off the $380 support zone. The price broke past the 9-day simple moving average, suggesting a possible shift in short-term momentum. Volume also spiked notably, reinforcing bullish intent. On the Directional Movement Index (DMI), the +DI line rose above the -DI, while the ADX hovered above 20, signaling a potential trend build-up. Contributing to market confidence, institutional momentum has accelerated. Synaptogenix recently committed to a $10 million TAO investment as part of its new crypto-AI strategy. Simultaneously, BitGo and Yuma launched institutional staking support, and Bittensor reached an all-time high of 118 active subnets, highlighting rapid expansion in decentralized AI infrastructure. If TAO sustains this upside and closes above $420, it could retest the $440–$460 resistance zone. However, if bullish momentum falters, immediate support lies at $387, with a deeper fallback potentially targeting $365.

Raydium (RAY)

Key points:

  • At press time, RAY was trading at $2.36, up 4.38% over the last 24 hours.

  • The price reclaimed the 9-day SMA, while the RSI edged higher from the oversold zone.

What you should know:

Raydium bounced sharply off the $2.10 support, reversing a week-long downtrend. The recent candle broke above the 9-day simple moving average, suggesting a shift in short-term sentiment. Accompanying this recovery, the RSI climbed from near 30 to above 40, hinting at early-stage bullish momentum and renewed accumulation interest. This bounce came after an extended pullback from the $3.50 zone in May. If RAY maintains above $2.30, the next upside targets include $2.60 and $2.80. However, failure to hold this level could reignite selling pressure and push the price back toward the $2.00–$2.10 support region.

XRP (XRP)

Key points:

  • At press time, XRP was trading at $2.25, down 0.41% over the last 24 hours.

  • The Parabolic SAR dots trailed above the candles, while the MACD lines hovered near a bullish crossover.

What you should know:

XRP’s price maintained a tight consolidation range after bouncing off the $2.10 level earlier this week. The Parabolic SAR remained above the price action, signaling continued bearish pressure. However, the MACD line inched closer to crossing above the signal line, suggesting momentum could be shifting in the bulls’ favor. Volume remained steady, reflecting market indecision. If XRP breaks above $2.30, it could retest the $2.45 resistance area. However, a drop below $2.20 could reintroduce bearish sentiment and open the door for a decline toward $2.00. On the fundamental front, speculation around an XRP-spot ETF, surging on-chain volumes nearing half a billion dollars per day, and Ripple’s new Web3 grant program in Japan have bolstered long-term optimism. That said, short-term concerns remain, with Circle's competing USDC-powered payment network posing a threat to RippleNet’s market share.

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