USDT Issuer Tether has signed a new deal with Adecoagro S.A., a leading sustainable production company in South America. The partnership aims to explore innovative ways to integrate renewable energy sources into Bitcoin mining operations in Brazil.
Bitcoin Mining with Renewable Energy
Under the new agreement, USDT Issuer Tether and Adecoagro plan to leverage renewable energy sources to power bitcoin mining operations. Adecoagro, which has more than 230 MW of renewable energy generation capacity across South America, will use its surplus energy to support mining activities.
The aim of the project is to stabilize part of the energy sold by spot market providing a more stable pricing option. In this way, the companies will achieve new efficiencies through the nexus of technology, energy, and agriculture.
Mariano Bosch, CEO of Adecoagro, said he was excited about the project as it would allow the company to hedge some of the energy they sell on the spot market and lock in the price, as well as benefiting from the upside of Bitcoin.
Tether’s Role in Bitcoin Mining Expansion
USDT Issuer Tether brings substantial expertise in the bitcoin mining ecosystem, with an expanding portfolio of sustainable mining operations across multiple regions. Paolo Ardoino, CEO of Tether, commented on the potential of this partnership:
“We’re proud to collaborate with Adecoagro. This project is another step in our growing commitment to renewable-powered bitcoin mining.” Ardoino pointed out that Tether is concentrated in robust energy infrastructure and decentralized networks, which match the energy capabilities of Adecoagro.
Going forward, the project will utilize Tether Mining OS to manage this site, to be open-sourced in the next few months. The initiative may increase accessibility to mining as well as a transparent and well efficient platform to manage mining activities. The experience of Tether will be instrumental in achieving success with the project in the digital asset space.
Strategic Long-Term Exposure to Bitcoin
The partnership also presents a first of a kind possibility of Adecoagros to diversify its energy strategy. In addition to making money by selling surplus energy, the company believes that bitcoin is a long-term value play, like their farmland properties. Within the project, Adecoagro will include Bitcoin mining in its balance sheet, which will strengthen the financial positioning of the firm further.
Juan Sartori, Executive Chairman of Adecoagro’s Board of Directors, noted, “This collaboration allows us to explore a new intersection between agriculture, energy, and technology — unlocking potential efficiencies and diversifying our energy strategy in a responsible and forward-looking manner.” Both companies expect that the Bitcoin mining project will drive financial inclusion, improve energy efficiency, and create a new model of responsible innovation.
Nevertheless, the US bankruptcy judge has allowed the Celsius networks suit against Tether even despite the major deal. Celsius claims that Tether mismanaged over 39,500 Bitcoin when it failed in 2022, and used the cash to pay off debts without consulting the agreed policies.
In the meantime, Pakistan is facing criticism over its intended use of subsidized electricity to mine bitcoins. The International Monetary Fund (IMF) also rebuffed Pakistan’s plans to offer specific subsidies to Bitcoin miners, even though the country has excess energy supply throughout its winters.
Kelvin Munene Murithi
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Source: https://coingape.com/usdt-issuer-tether-signs-new-deal-to-power-bitcoin-mining-in-brazil/