Tether Holdings Ltd. has signed a memorandum of understanding with agribusiness Adecoagro S.A. to launch a collaborative pilot project focused on Bitcoin mining in Brazil.
Tether and Adecoagro Agreement
Tether, the issuer of the USDT stablecoin, and Adecoagro, a South American agribusiness firm, announced their partnership through a memorandum of understanding. The agreement was revealed in a press release on Tether's website on Thursday.
Pilot Mining Project
The two companies plan to initiate a pilot project for Bitcoin mining in Brazil, combining renewable energy capabilities with Tether's digital asset expertise. The project will employ Tether's Mining OS software, which will be open-sourced in the coming months. Adecoagro views the project as a means to monetize surplus electricity while diversifying its balance sheet with digital assets like Bitcoin. Mariano Bosch, Co-Founder and CEO of Adecoagro, stated that the collaboration could help stabilize energy pricing for the company.
Expansion of Initiative in Africa
Tether has also announced a partnership with the Zanzibar authorities to advance financial literacy and blockchain education on the islands. This initiative will integrate Tether's stablecoins into Zanzibar's digital payment platforms, promoting financial inclusion. Tether CEO Paolo Ardoino emphasized the significance of this collaboration for advancing financial literacy in Africa.
The agreement between Tether and Adecoagro has the potential to reshape Bitcoin mining approaches, merging agriculture with technology while promoting financial literacy in developing regions.
