Tether (USDT) is also getting into the sustainable energy and bitcoin mining business
Tether’s latest announcement has caught the attention of the crypto industry, as the company now plans to not only buy Bitcoin, but also mine it through its own energy production. In a notable collaboration with an unnamed company in Uruguay, Tether (USDT) will expand its operations into the South American continent to take advantage of cheap electricity costs and widespread use of renewable energy.
Tether (USDT) is entering the sustainable energy and bitcoin mining business
As the leading issuer of the largest stablecoin USDT, Tether has already made headlines with its decision to buy Bitcoin. The recent initiative to mine Bitcoin using self-produced clean energy demonstrates the company’s confidence in the cryptocurrency industry and its efforts to harness the benefits of renewable energy.
Tether’s official statement emphasized the importance of renewable energy and called Bitcoin “the most secure money network in the world”. By using renewable energy, the company not only wants to maximize the efficiency of its mining process, but also minimize its ecological footprint. CTO Paolo Ardoino had his say on the matter, emphasizing the importance of taking an eco-friendly approach to bitcoin mining.
Did you know: Lugano celebrates first Plan B Forum as a success
That’s why they chose Uruguay
The choice of Uruguay as the location for these activities was also detailed in Tether’s statement. Uruguay has earned a global reputation as a pioneer in the field of renewable energy. An impressive 94 percent of the country’s electricity generation comes from renewable sources, with wind and solar power in particular dominating. The availability of these low-cost and environmentally friendly energy sources makes Uruguay an ideal location for Tether’s bitcoin mining efforts.
It is important to note that Tether already announced that it would regularly buy Bitcoin about two weeks ago. For this you will use 15 percent of the profit from your own business. This decision underscores the company’s commitment to the cryptocurrency industry and its intention to actively participate in supporting and stabilizing the Bitcoin network.
With this latest initiative, Tether will undoubtedly play a significant role in bitcoin mining while also promoting eco-friendly practices. Pairing cryptocurrencies with renewable energy is a promising step towards a more sustainable future for the blockchain industry. By using its resources and expertise in this area, Tether is helping to boost cryptocurrency adoption and build trust in the industry.
