This Tuesday (30), Tether, the company that issues the USDT stablecoin, announced the start of bitcoin mining in Uruguay. In a note, Tether emphasized that it will work with a regulated company in the country.
Once a little-known destination for bitcoin miners, South America has garnered attention in recent years. In the case of Uruguay, much of the country’s energy production is generated by renewable sources.
With Tether’s arrival in the region, the company is showing support for bitcoin and continuing to invest in the future of the industry.
“We are at the forefront of sustainable bitcoin mining,” said Tether CTO after investing in Uruguay
In addition to investments in the cryptocurrency market, Tether has started a new renewable energy investment division. By investing resources in energy production and launching sustainable Bitcoin mining operations in Uruguay, in partnership with a local licensed company, the company believes it has taken another significant step as a global technology company.
According to Paolo Ardoino, CTO of Tether, his company is at the forefront of sustainable bitcoin mining.
“By leveraging the power of Bitcoin and Uruguay’s renewable energy capabilities, Tether is at the forefront of sustainable and responsible Bitcoin mining. Our unwavering commitment to renewable energy ensures that every Bitcoin we mine leaves a minimal environmental footprint, while preserving the security and integrity of the Bitcoin network. Tether is proud to lead a movement that combines advanced technology, sustainable practices and financial innovation.”
Uruguay has a robust energy grid, says Tether
In a note to the market, Tether says Uruguay is a country with a robust energy system, which could create the conditions for bitcoin mining to flourish even more.
That’s because the country has invested in energy infrastructure in recent years, creating a reliable network that meets modern industrial demands. Production data indicates that 94% of electricity generation comes from renewable sources, mainly wind and solar energy.
According to Tether, all of its bitcoin mining will be sustainable, making the production of the digital currency greener.
Tether wants to hire energy experts
Although it has not disclosed the name of its partner company in Uruguay, Tether says it will continue to invest in the renewable energy sector.
To this end, it hopes to employ more specialists who understand the business, who can help the company grow in the sector.
According to the company, its goal is to become a global technology leader, and this latest initiative demonstrates Tether’s commitment to energy innovation and the future of cryptocurrency.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
