Tether, the company behind the major stablecoin USDT, is embarking on a project to mine bitcoin using renewable energy with Brazilian agribusiness firm Adecoagro. The two companies have entered a partnership to utilize Adecoagro’s surplus energy for mining operations and potentially include BTC in Adecoagro’s financial portfolio.
Key Points:
- Tether has partnered with Adecoagro in Brazil to examine methods of bitcoin mining using renewable energy.
- Adecoagro, where Tether has a 70% stake, is a significant player in food production and has substantial energy generation capabilities across South America.
- The goal is for Tether to become the leading bitcoin miner by the year’s end, having already committed $2 billion to energy and mining initiatives per CEO Paolo Ardoino’s statements in May.
Adecoagro has a capacity of 230 megawatts for power generation in South America and is noted for its production in various agricultural sectors.
“This project enables us to stabilize a part of the energy we currently sell on the spot market while also allowing exposure to the potential benefits of bitcoin,” stated Mariano Bosch, Adecoagro’s CEO.
The initiative highlights Tether’s increasing ambitions within the bitcoin mining sector, particularly following its investments in mining infrastructure. The company also mentioned in its plans the development of a mining operating system software to be made open source soon.
For more information, read the official press release.
