Tether (USDT), the world's largest stablecoin issuer, has announced that it will invest in power generation and launch sustainable Bitcoin mining operations in Uruguay in partnership with a local licensed company.
Tether CTO Paolo Ardoino Makes Statement on the Subject
According to Tether's CTO Paolo Ardoino, the company is using the power of Bitcoin and Uruguay's renewable energy capabilities to pioneer sustainable and responsible Bitcoin mining:
“Our unwavering commitment to renewable energy ensures that every Bitcoin we mine leaves a minimal ecological footprint while maintaining the security and integrity of the Bitcoin network. Tether is proud to lead a movement that combines cutting-edge technology, sustainable practices and financial innovation.”
Tether is also preparing to invest in renewable energy sources to support and promote sustainable Bitcoin mining, which is an essential component in maintaining the world's most robust and secure currency network.
To achieve this goal, the company reported that it is actively trying to strengthen its team by recruiting experts in the energy sector.
Uruguay stands out as a global leader in renewable energy, with 94% of its electricity production from renewable sources, primarily wind and solar power. With abundant natural resources, Uruguay offers ideal conditions for renewable energy generation, facilitating the establishment of wind farms, solar parks and hydroelectric projects, and guaranteeing a consistent supply of clean and environmentally friendly energy.
According to the statement from the Tether official blog, this solid foundation provides an excellent platform for Tether to start its Bitcoin mining operations, providing efficient and sustainable operations.
As Bitcoinsistemi.com previously reported, Tether also holds $1.5 billion worth of Bitcoin in reserve assets and plans to invest 15% of its profits in Bitcoin as part of its new investment strategy.
*Not investment advice.