A company that is changing the way the world mines bitcoin

Coinpaper 2025-02-05 00:08:34

Tether Made $13 Billion in Net Profit

Tether Hits $13 Billion Profits for 2024 And All-Time Highs in U.S. Treasury Holdings, USD₮ Circulation, and Reserve Buffer in Q4 2024 Attestation Read more: https://t.co/1CRfIK5XR0 — Tether (@Tether_to) January 31, 2025 Paolo Ardoino, the head of the firm, specified that $6 bln was earned in the last quarter alone. The company's direct and indirect investments in U.S. Treasuries reached a record high of $113 billion. For the fourth quarter of 2024, Tether issued $23 billion worth of USDT, increasing its total issuance to $45 billion by the end of the year - comparable to Circle's USDC capitalization. Excess Stablecoin reserves grew 36% year-over-year to over $7 billion. The report was audited by independent audit firm BDO. Colossal figure Electric Capital co-founder Avichal Garg suggested that Tether is the most profitable company per employee; the figure is $85.6 million. Tether is likely the most profitable company in the world per employee.Goldman Sachs — $288,172 profit per employeeMeta Platforms — $455,586 Apple — $571,341 NVIDIA — $1,006,757 Tether — $85,625,000 profit per employee It just looks silly when you graph it pic.twitter.com/a3qSbrxvIK — Avichal — Electric ϟ Capital (@avichal) January 31, 2025 By comparison: Goldman Sachs - $288,172; Meta Platforms - $455,586; Apple - $571,341; NVIDIA - $1,006,757. According to Ardoino, the company plans to launch new products in artificial intelligence, telecommunications, education and other areas. The company will continue to develop projects in such industries as renewable energy and bitcoin mining.