Tether announced that it has invested in Uruguay to start power generation and sustainable mining operations.
Tether, the issuer of USDT, which has a market value of approximately 83 billion dollars, continues to invest globally. Earlier, Tether had given the message that it would start buying Bitcoin for its reserves. The stablecoin issuer has announced a new investment.
Tether stated that it has invested in the launch of sustainable Bitcoin mining operations in Uruguay. Accordingly, the company is turning to renewable energy sources to support Bitcoin mining.
Tether Invests In Power Generation In Uruguay
USDT issuer Tether has invested in Bitcoin mining in Uruguay. According to the company statement, the scope of Bitcoin mining through renewable energy will be expanded.
Tether CTO Paolo Ardoino stated that Tether will leverage the power of Bitcoin and the renewable energy capacity of Uruguay. In addition, Ardoino stated that his company pioneered Bitcoin mining.
Uruguay stands out with its 94 percent natural production in renewable energy. The country mainly uses wind and solar energy. Wanting to take advantage of this potential resource in the country, Tether made a new move on sustainable Bitcoin mining. However, it was not disclosed how much and how much the company invested.
Finally, the company started to recruit experts from the energy sector within the scope of its investments and developments. Tether, who worked hard to grow the team, separated its access from finance and communication and concentrated on the energy sector.
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