Back to the list

Stablecoin Issuer Tether To Begin Bitcoin Mining Operations In Uruguay

source-logo  bitcoinmagazine.com 30 May 2023 16:23, UTC

Tether, the company behind the widely popular USD stablecoin, has announced its foray into energy production and sustainable Bitcoin mining operations in Uruguay. According to the announcement, Tether’s collaboration with a local licensed company marks the company’s expansion into the energy sector as part of its goal to become a global tech leader.

By investing in renewable energy sources, Tether said it aims to support and promote sustainable Bitcoin mining, ensuring a “minimal ecological footprint while upholding the security and integrity of the Bitcoin network.” Paolo Ardoino, CTO of Tether, emphasized the company's commitment to renewable energy, stating, "Tether is proud to spearhead a movement that combines cutting-edge technology, sustainable practices, and financial innovation."

Uruguay has gained recognition as a leader in renewable energy, with an impressive 94% of electricity generation sourced from renewable sources such as wind and solar power according to the announcement. The country's favorable conditions for renewable energy production, including wind farms, solar parks and hydropower projects, make it an ideal location for Tether's sustainable mining operations. The company also stated that Uruguay's robust and reliable grid system further ensures efficient and sustainable mining activities.

Tether is actively seeking experts in the energy sector to join its team and contribute to this innovative project. For more information on Tether's energy initiative and potential career opportunities, interested individuals can visit their website at tether.recruitee.com/energy.