Key Points:
Tether, the blockchain-enabled platform powering the world’s first and most widely used stablecoin, announced its investment in the energy sector and plans to launch sustainable Bitcoin mining operations in Uruguay. The company is partnering with a local licensed company to invest in renewable energy sources that support and promote sustainable Bitcoin mining. By doing so, the firm is expanding its reach beyond finance and communications and is actively seeking to augment its team by recruiting experts in the energy sector.
Uruguay, with its abundant natural resources, is an ideal location for the production of renewable energy and has emerged as a global leader in renewable energy, with 94% of electricity generation coming from renewable sources, predominantly wind and solar power. This solid foundation provides the perfect platform for Tether to begin Bitcoin mining operations in a sustainable and responsible way, ensuring efficient and sustainable operations.
Paolo Ardoino, CTO of Tether, stated, “by harnessing the power of Bitcoin and Uruguay’s renewable energy capabilities, Tether is leading the way in sustainable and responsible Bitcoin mining. Our unwavering commitment to renewable energy ensures that every Bitcoin we mine leaves a minimal ecological footprint while upholding the security and integrity of the Bitcoin network. Tether is proud to spearhead a movement that combines cutting-edge technology, sustainable practices, and financial innovation.”
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