The company behind the world’s largest stablecoin announced on May 30 that it wants to mine BTC using sustainable energy in the South American country.
To do so, Tether has decided to invest in “renewable energy sources to support and promote sustainable Bitcoin mining.”
- The company’s statement noted that the South American nation is among the global leaders in terms of renewable energy, as 94% of its electricity generation comes from renewable sources, predominantly wind, and solar power.
“By harnessing the power of Bitcoin and Uruguay’s renewable energy capabilities, Tether is leading the way in sustainable and responsible Bitcoin mining,” – commented Tether’s CTO – Paolo Ardoino.
- The announcement failed to name Tether’s local partner. It only portrayed it as a licensed company.
- The stablecoin issuer also described developing sustainable BTC mining processes as “an essential component in upholding the world’s most robust and secure monetary network.”
- Further elaborating on Tether’s plans for sustainable BTC mining, Ardoino added:
“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.”