Tether plans to collaborate with Latin America sustainable production company Adecoagro to use renewable energy in Bitcoin mining in Brazil.
Tether, the company behind the stablecoin Tether (USDT) and a major player in the crypto industry, has revealed a memorandum of understanding that will see them use renewable energy to mine Bitcoin (BTC).
According to an announcement, Bitcoin mining is increasingly becoming a key tool in monetizing surplus energy. The benefits also include helping stabilize power grids and advancing the adoption of decentralized networks.
Bitcoin mining and BTC long term value
Partnering with Tether will allow the South American agribusiness company to explore innovative ways to maximize the use of its renewable energy assets.
“This project opens the door to stabilizing a portion of the energy we currently sell on the spot market, locking in pricing, while also gaining exposure to the upside potential of bitcoin,” said Mariano Bosch, co-founder and chief executive officer of Adecoagro.
Adecoagro’s renewable electricity generation capacity currently exceeds 230 MW, and the company plans to tap into mining to monetize surplus energy. Adecoagro views BTC as a new source of long-term value and sees the mining initiative as a way to add Bitcoin to its balance sheet.
Tether will play a central role in Adecoagro’s strategy to integrate Bitcoin mining with its renewable energy production.
“This project is another step in our growing commitment to renewable-powered bitcoin mining and highlights the potential to align agricultural energy production with cutting-edge digital infrastructure. We believe this model can drive financial inclusion, promote energy efficiency, and serve as a blueprint for responsible innovation at the intersection of technology and sustainability,”said Paolo Ardoino, chief executive officer of Tether.
News of the latest Tether partnership with Adecoagro comes a few months after the USDT issuer reportedly expanded its stake in the agribusiness firm. Tether has inked multiple deals aimed at bolstering crypto adoption with governments and companies.
In addition to stablecoin adoption, Tether’s current strategic focus includes artificial intelligence, infrastructure investment, and blockchain education.
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