The biggest stablecoin player wants to be a major bitcoin miner - and it's investing $500 million to compete

• Tether is investing $500 million to enter bitcoin mining, Bloomberg reported.
• The $87 billion stablecoin operator has large coffers that could make it a significant competitor in the space.
• Tether will construct its own bitcoin mining facilities and also take stakes in existing companies. 

Tether, the issuer of the largest US dollar stablecoin, is aiming to become a bitcoin miner, and it's planning to invest $500 million to establish itself as a major player, Bloomberg reported on Thursday.