In the words of Paolo Ardoino, the CTO of Tether, "By harnessing the power of Bitcoin and Uruguay's renewable energy capabilities, Tether is leading the way in sustainable and responsible Bitcoin mining."
Stablecoin issuer Tether (USDT) announced its plans to mine Bitcoin (BTC) using renewable energy in Uruguay.
In its blog post, the issuer of USDT praised Uruguay for its reliable energy infrastructure. Calling Uruguay a global leader in the field of renewable energy, Tether claimed that Uruguay’s renewable energy prowess makes it the perfect nation for crypto-mining operations.
As a result, Tether will collaborate with a local firm to expand into the field of Bitcoin mining. The stablecoin issuer, however, has yet to reveal the name of its partner company.
The news came a few days after Tether claimed that the firm will strengthen its USDT reserves by allocating 15% of its profits to purchasing Bitcoin every month starting May 2023.
Written by
Ayush Pande
Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.
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