Tether, the digital asset firm behind the world’s largest stablecoin USDT USDT, is exploring renewable energy-powered bitcoin BTC mining with South American agribusiness agency Adecoagro (AGRO) in Brazil.
The companies have signed a strategic partnership for a pilot undertaking to use Adecoagro’s surplus power to function mining amenities and may additionally add BTC to Adecoagro’s steadiness sheet in the longer term, in accordance to a Thursday press release.
Adecoagro, in which Tether acquired a 70% stake, has 230 megawatt in energy technology capability throughout South America. The corporate is a distinguished meals producer in the area and owns sugar mills, rice farms and dairy operations.
“This undertaking opens the door to stabilizing a portion of the power we presently promote on the spot market, locking in pricing, whereas additionally gaining publicity to the upside potential of bitcoin,” mentioned Mariano Bosch, co-founder and CEO of Adecoagro.
The transfer underscores Tether’s rising ambition in bitcoin mining following its earlier investments in mining facility in the area. The agency mentioned it has developed an working system software program for miners referred to as Tether Mining OS, with plans to make it open supply in the following months.
CEO Paolo Ardoino said on the Bitcoin 2025 convention in Could that Tether “would be the greatest bitcoin miner by the top of this yr” and has invested $2 billion in power manufacturing and mining operations.
Learn extra: NY Bankruptcy Judge Gives Celsius the Green Light to Pursue $4.3B Lawsuit Against Tether
