Tether, the crypto company behind the $140 billion cryptocrrency USDT, is working on an artificial intelligence (AI) platform and aiming to debut early next year, according an X post by CEO Paolo Ardoino.

“Just got the draft of the site for Tether’s AI platform. Coming soon, targeting end Q1 2025,” Ardoino posted on Friday.

Tether is known for issuing USDT, the most popular stablecoin in the market, but the company recently made significant efforts under Ardoino’s leadership to expand its business beyond stablecoin issuance.

Read more: Tether’s Paolo Ardoino: Building Beyond USDT

It invested in several companies across sectors including energy, payments, telecommunications and artificial intelligence, entered into commodities trade financing and reorganized its corporate structure earlier this year to reflect its broadening focus.

Last year, Tether acquired a stake in artificial intelligence and cloud computing firm Northern Data, indicating its growing interest in AI.

While details were scarce about the upcoming AI platform, Tether’s ambition to release a product in the red-hot industry also underscores the growing intersection of crypto and artificial intelligence.

CoinDesk reached out to Tether for more details about the upcoming product, but the company did not reply by press time.

Mo Shaikh, co-founder of Aptos Labs, announced that he’s stepping down as CEO of the company.

Aptos is a layer-1 blockchain that claims to offer enhanced scalability, security and transaction speeds. The platform leverages a unique blockchain programming language called Move, which was originally created for Facebook’s shuttered “Diem” project.

In a lengthy post on X, Shaikh, who co-founded Aptos with Avery Ching three years ago, expressed pride in the progress made by the company, which included raising a mammoth $400 million in venture capital funding and building “one of the most robust ecosystems, trusted by over a thousand builders and innovators around the globe.”

Ching, Shaikh said, will assume the role of CEO and lead the company into its next phase of growth.

In his X post, Shaikh acknowledged the work of Aptos’ partners and investors, including firms like BlackRock, Google, Mastercard and PayPal.

“None of this would have been possible without the unwavering support of our incredible investors. I want to extend my deepest gratitude to Dragonfly, Blocktower, Haun Ventures, Hashed, IRONGREY, a16z, Apollo, Coinbase, Parafi, Scribble, PayPal, Franklin Templeton, and the amazing angels who believed in our vision,” he wrote.

Shaikh said he will remain with the company as a strategic adviser and plans to take time to reflect on the future of blockchain and financial systems. “I will always remain a champion of Aptos and its mission,” he wrote, adding that he will “look forward to continuing to help Aptos maintain its role as the world’s leading blockchain.”

Another bitcoin miner, Hut 8 (HUT), has decided to pull the trigger on buying bitcoin in the open market, following the likes of MicroStrategy (MSTR) and MARA Holdings (MARA).

The Miami, Florida-based company said it bought about 990 bitcoin for an average price of $101,710 each. The latest purchase will bring the amount of bitcoin held in Hut 8’s reserve to 10,096, or about $1 billion in market value, and make it among the top 10 largest corporate owners of bitcoin, the company said in a statement on Thursday.

The miner is planning to use the reserve through options strategies, pledges, sales or other strategies, according to the statement. Hut 8’s CEO, Asher Genoot, told CoinDesk that his firm will be opportunistic in buying more bitcoin in the open market.

“Today, the market recognizes and values our strategic reserve, which effectively lowers our cost of capital and strengthens our financial position. As long as this market dynamic persists, we will remain opportunistic in expanding our Bitcoin reserve,” Genoot said.

The move follows Hut 8’s announcement earlier this month that it started a new $500 million at-the-market share issuance program. At the time, the firm said some of the proceeds from the fund would be used to buy bitcoin in the open market, among other things.

MicroStrategy, the largest corporate holder of bitcoin on its balance sheet, started the trend of buying bitcoin in the open market. It wasn’t until MARA Holdings’ purchase of bitcoin in the open market this year that this became prominent among the miners. Most recently, peer Riot Platforms (RIOT) bought 667 bitcoin at an average price of $101,135 on Dec. 16.

Buying large amounts of bitcoin in the open market has paid off for miners opening up new avenues of raising funds at a time when the industry is grappling with a profit squeeze after the recent Bitcoin halving event. Last month, MARA was able to raise $1 billion in convertible debts—a financial instrument where investors can convert debt into equity—with zero interest. This means investors are willing to let go of the interest income from the debt for the equities that provide them with exposure to bitcoin.

Hut 8 said holding bitcoin reserve serves as a flexible option for the firm that can help the company grow. “We view our strategic reserve as a dynamic financial asset that can be actively managed to drive returns well beyond simple price appreciation,” Genoot told CoinDesk.

“Together with the significant investments we are making to expand our core operating business—with a clear path to 24 EH/s of self-mining capacity by Q2 2025—strategic Bitcoin purchases in the open market can strengthen our balance sheet and ability to invest thoughtfully in growth,” he said.

Shares of Hut 8 have risen 74% this year, while CoinShares Valkyrie Bitcoin Miners ETF (WGMI) climbed 28%.