Tether, the force behind USDT {{USDT}}, the leading stablecoin, is considering entering the green bitcoin mining sector through a partnership with Adecoagro (AGRO), a major agribusiness player in South America. The focus is on utilizing renewable energy sources in Brazil.
According to a recent announcement, the companies have formed a collaboration to explore a pilot project. This initiative will leverage Adecoagro’s excess energy production to power bitcoin mining operations. There’s also potential for Adecoagro to incorporate BTC into its investment holdings in the future.
Tether’s significant investment in Adecoagro, where it secured a 70% ownership, gives it access to a sizable power generation capability. Adecoagro possesses 230 megawatts of capacity spread across its South American operations. The firm is a major regional food producer with diverse holdings, including sugar mills, rice cultivation, and dairy enterprises.
Mariano Bosch, Adecoagro’s co-founder and CEO, stated that the collaboration presents an opportunity to stabilize the energy market by securing prices for surplus energy. In addition, it allows the company to participate in the potential upside of bitcoin.
This development highlights Tether’s expanding interest in the bitcoin mining industry, following earlier investments in mining facilities within the region. The company has also created Tether Mining OS, an operating system designed for miners, which it plans to release as open-source software in the coming months.
Tether’s CEO, Paolo Ardoino, conveyed ambitions at the Bitcoin 2025 conference in May. He stated that Tether aims to be the largest bitcoin miner by the end of the year, backed by a $2 billion investment in both energy production and mining ventures.
Read more: NY Bankruptcy Judge Gives Celsius the Green Light to Pursue $4.3B Lawsuit Against Tether