Tether decided to start Bitcoin mining
01/06/2023
The company of one of the world's largest stablecoin issuers has decided to engage in mining BTC. Also, they announced a green power generation investment campaign and the launch of Bitcoin eco-mining in Uruguay. The company is partnering with a local licensed company as part of the project.
The vision of Tether
Thus, Tether has expanded its scope to include energy and mining. The statement says that the company's goal is to become a global technology leader, and this investment demonstrates Tether's "commitment to innovation in energy and the future of cryptocurrency."
According to the company's statements, it chose Uruguay because it is rich in natural resources and renewable energy production — creating wind farms, solar parks, and hydropower projects. Renewable energy accounts for 94 percent of the country's electricity production, making it a world leader.
There are, of course, big doubts that Uruguay will become a world leader in mining because all green energy is insanely expensive to run. Its payback, even with the almost free generation, is far beyond the realm of reason. But the story itself is just beautiful! Let's wait and see what it results in.
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