• Tether, the company behind the world’s largest stablecoin, announced on May 30 that it is investing in “renewable energy sources to support and promote sustainable Bitcoin mining.”
• The South American nation of Uruguay is a global leader in renewable energy, with 94% of its electricity generation coming from renewable sources, predominantly wind and solar power.
• Tether’s CTO Paolo Ardoino stated that sustainable Bitcoin mining is an essential component in upholding the world’s most robust and secure monetary network.
Tether to Invest in Renewable Energy for Sustainable Mining
Tether, the company behind the world’s largest stablecoin, announced on May 30 that it is investing in “renewable energy sources to support and promote sustainable Bitcoin mining.” The South American nation of Uruguay is a global leader in renewable energy, with 94% of its electricity generation coming from renewable sources, predominantly wind and solar power.
Uruguay’s Renewable Energy Capabilities
Uruguay has long been recognized as one of the leading nations when it comes to renewable energy production. With 94% of its electricity coming from wind and solar power plants located all around the country, Tether believes that this provides a great opportunity for them to create a sustainable Bitcoin mining operation.
Minimizing Ecological Footprint
Tether’s CTO Paolo Ardoino stated that developing sustainable BTC mining processes is “an essential component in upholding the world’s most robust and secure monetary network.” By harnessing Uruguay’s renewable energy capabilities, Tether wants to ensure that every Bitcoin they mine leaves a minimal ecological footprint while still maintaining security and integrity of the Bitcoin network.
Local Partner
The announcement failed to name Tether’s local partner but revealed it as a licensed company.
Conclusion
By investing in ‘renewable’ energies for mining BTC operations sustainably, Tether shows their commitment towards creating an environmentally-friendly future where digital currencies are used securely without compromising on ecological footprints or sustainability goals.