- Tether’s Chief Technology Officer Paolo Ardoino made the announcement on Twitter.
- The stablecoin issuer chose Uruguay as the site for its bitcoin mining operation.
Tether, the firm behind the USDT stablecoin, has announced a new, substantial commitment to support Bitcoin, after its prior disclosure that it would be purchasing Bitcoin with profit. Tether has now launched Tether Energy in Uruguay. Where they want to invest in the sustainable generation of electricity and the mining of Bitcoin.
Moreover, Tether’s Chief Technology Officer Paolo Ardoino made the announcement on Twitter on May 30 that Tether Energy will invest in and develop renewable energy projects and bitcoin mining operations. Also, Tether has begun Bitcoin mining in conjunction with a locally licensed firm.
Tether’s Chief Technology Officer, Paolo Ardoino, has said that the business would use cutting-edge technology, sustainable practices, and financial innovation to mine Bitcoin using renewable energy in an effort to reduce its environmental impact.
Banking on Renewable Energy
The stablecoin issuer claims to be aware of how vital energy is to growth and the creation of better societies. To mine Bitcoin, the most decentralized and secure cryptocurrency in the world, it will use renewable energy sources.
Tether is eager to grow its workforce and is actively seeking out qualified candidates with experience in the energy industry. There are seven open roles at the firm at the moment, such as site manager, IT technician, and mechanical technician.
Furthermore, Tether chose Uruguay as the site for its bitcoin mining operation because of the country’s established renewable energy infrastructure.
With its plentiful natural resources and favorable climatic circumstances, the country generates about 94% of its power from renewable sources. In addition, Tether’s prerequisites for launching Bitcoin mining operations are satisfied by a dependable electric grid infrastructure, which guarantees both efficient and sustainable operations.