USDT stablecoin issuer Tether plans to expand operations in Uruguay. The Latin American country has been chosen to develop means of sustainable energy production, also with Bitcoin (BTC) mining farms. Could this be a new course for the company?
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Tether (USDT) vise l’Uruguay pour développer des solutions de mining de Bitcoin (BTC) durables
Tether bets on mining in Uruguay
The crisis of confidence linked to stablecoins has not spared anyone in recent months. But it would seem that Tether, the issuer of the stablecoin USDT, has come out of it haloed… And consolidated in its place of the most capitalized stablecoin of the moment. What to prepare for the next step?
The company wants to diversify its activities. It announced yesterday that it was investing in sustainable energy production, as well as bitcoin mining. Tether is partnering with a local regulated company – which is not named in the press release – to start these new activities.
This is an entirely new initiative for Tether, as the statement highlights:
“With this, Tether has extended its reach from finance and communications to the energy sector. Its goal is to become a global tech leader, and this latest move shows its commitment for energy innovation and the future of cryptocurrency.»
👉 To go further – What is mining?
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Sustainable energies to mine Bitcoin
Tether wants to support the Bitcoin network, which is described as “the most robust and secure monetary network in the world“. For this, the company considers it crucial to develop sustainable energy technologies. It will therefore recruit experts in the field who will devote themselves to developing local solutions.
Why in Uruguay? Because the country is already at the forefront when it comes to the production of renewable energies. He thus achieved a record with 94% of electricity produced sustainably. Power plants make use of the sun, wind and waterways to power the grid.
This is therefore a notable shift for Tether, which had not previously devoted resources particularly to Bitcoin… Until this year. Earlier this month, we learned that Tether would now devote 15% of its profits to the purchase of Bitcoin (BTC). The biggest cryptocurrency is therefore now seen as a reserve asset for the companywhich also explains why she turns to mining.
A choice that Paolo Ardoino, the technical director of Tether, explained a few days ago:
“Bitcoin has continually proven its resilience and established itself as a long-term store of value. with substantial growth potential. Its limited supply, decentralized nature, and widespread adoption have made Bitcoin a preferred choice for institutional investors and individuals. »
Tether will therefore clearly no longer be seen solely as an issuer of stablecoins, but a diversified company and partially focused on Bitcoin.
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Source: Tether, press release
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Journalist at Cryptoast, I fell into the pot of cryptocurrencies a few years ago. I am passionate about the innovative technologies that stem from the blockchain and I like to find the most crispy information to share with you.
Marine Debelloir
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