Everything’s good at Tether Limited! 2023 will therefore be for this crypto company a year entirely devoted to investments and innovations. So she decided to start bitcoin mining in a country capable of generating green energy, Uruguay.
Tether will mine bitcoin in Uruguay
Tether Limited could go through some slumps, to name just this story of lack of transparency regarding USDT’s financial situation, but its performance is wowing observers. These include, among others, its astronomical profits achieved during the first quarter of 2023: $1.5 billion.
With such achievements, Tether executives do not think to sit back and wait for new problems to arise. Thus, they decided to expand their BTC mining activities.
” At Tether, we understand the importance of energy in driving progress and enabling thriving communities to thrive. That’s why we’re committed to harnessing the power of renewable energy to mine Bitcoin, the world’s most open and secure monetary network. »
This project of development of Tether’s bitcoin mining capability will therefore materialize in Uruguay. The choice of the country would be motivated by its ability to ” generate 94% of its electricity from renewable sources, including wind and solar “, precise Cointelegraph.
Paolo Ardoino, technical director of Tether, commented on this initiative in an article published on the official site of the crypto business.
” Harnessing the power of Bitcoin and Uruguay’s renewable energy capabilities, Tether is paving the way for sustainable and responsible bitcoin mining. Our unwavering commitment to renewable energy ensures that every bitcoin we mine leaves a minimal ecological footprint while maintaining the security and integrity of the Bitcoin network. Tether is proud to be spearheading a movement that combines advanced technology, sustainable practices and financial innovation. »
Focus on less wealthy countries
Renewable energy resources, Latin America, Africa and several developing countries have a lot of them. As for Uruguay, solar energy, hydroelectricity and wind power are its strength at the moment.
But it should also be mentioned that Tether plans to expand this same Bitcoin mining activity in South Africa and Brazil. This will perfectly accommodate his intention to buy BTC in large numbers with part of his profits.
This story reminds us of an initiative launched by Jack Dorsey in 2022. This resigned boss of Twitter did indeed show the intention of financing bitcoin mining in Africa for its great energy potential.
Receive a digest of news in the world of cryptocurrencies by subscribing to our new service of daily and weekly so you don’t miss any of the essential Tremplin.io!
