Tether, the company behind the stablecoin USDT, has signed a memorandum of understanding with Adecoagro to use renewable energy for Bitcoin mining in Brazil.
Tether and Adecoagro Partnership
Tether and the Latin American agribusiness company Adecoagro have signed a memorandum of understanding aimed at utilizing renewable energy for Bitcoin mining. This collaboration is designed to monetize surplus energy and enhance grid stability.
New Opportunities for Mining
Adecoagro, boasting renewable electricity generation capacities exceeding 230 MW, plans to employ innovative technologies to maximize its energy assets. In an interview, Mariano Bosch, co-founder and CEO of Adecoagro, stated: "This project opens the door to stabilizing a portion of the energy we currently sell on the spot market, locking in pricing while also gaining exposure to the upside potential of bitcoin."
Tether's Renewable Energy Strategy
Tether aims to integrate Bitcoin mining with renewable energy production. According to Paolo Ardoino, CEO of Tether: "This project is another step in our growing commitment to renewable-powered bitcoin mining... we believe this model can drive financial inclusion and serve as a blueprint for responsible innovation at the intersection of technology and sustainability."
The collaboration between Tether and Adecoagro highlights the increasing interest in integrating renewable energy into the Bitcoin mining process, which could become a scalable model for other companies.
